Capgemini sees double-digit growth across regions, but clients remain cautious

By Christian Moess Laursen

Capgemini said Thursday that first-quarter revenue rose 10% organically, with double-digit growth in nearly all regions, despite cautious client sentiment.

The French consulting and technology group said revenue was 5.73 billion euros ($6.34 billion), up from EUR5.17 billion in the same quarter of 2022.

Analysts had seen revenue at EUR5.59 billion, according to a consensus estimate provided by FactSet.

The company said most of its regions continued to grow in the double digits at constant exchange rates.

"Capgemini has delivered a very good start to the year, above expectations, in an economic environment that remains tense with some clients adopting a 'wait-and-see' attitude," Chief Executive Officer Aiman Ezzat said.

Capgemini backed its full-year targets of revenue growth between 4% and 7% at constant currencies, operating margin of 13.0% to 13.2% and organic free cash flow around EUR1.8 billion.

Write to Christian Moess Laursen at christian.moess@wsj.com

-Christian Moess Laursen

This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

05-04-23 0207ET

Copyright (c) 2023 Dow Jones & Company, Inc.