Capgemini's first-quarter revenue up 7%, in line with estimates

By Leo Marchandon

April ‌30 - French ​IT ​services group Capgemini reported a 7% rise in first-quarter revenue at constant exchange rates on ‌Thursday, in line with guidance.

The company, which ⁠serves government agencies, critical infrastructure operators and large regulated businesses, said ‌growth would have been ‌11% without currency swings.

CEO Aiman Ezzat told reporters AI is rapidly reshaping the company's business mix, ​with generative and agentic AI accounting for more than 10% of group bookings in the quarter.

He ⁠cited Capgemini's global reach and deeper partnerships with U.S. tech firms, including ​Google and a new "Frontier Alliance" with OpenAI, as key drivers of growth.

The French IT services ​giant, which competes with peers ‌such as Sopra Steria and Accenture, has sidesteppedcalls for European tech autonomy, arguing that U.S. ⁠Big Tech's dominance makes any alternative unrealistic.

Revenue rose to 5.9 billion euros ($6.88 billion), while bookings increased 6.2% year-on-year ⁠to 6 billion euros in the quarter.

North America grew 20.7% at ​constant exchange rates to 1.7 billion euros, driven by its recently acquired AI unit WNS.

Sales fell 1% in France, while ‌the rest of Europe posted 1.7% growth.

Group headcount stood at 421,000 at end-march, up ‌23% year-on-year, reflecting the integration of WNS.

Capgemini confirmed ⁠its target of revenue ‌growth around 6.5% ​to 8.5%.

($1 = 0.8578 euros)

(Reporting by Leo Marchandon in Gdansk; Editing by Sumana Nandy and Nivedita ‌Bhattacharjee)

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