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consulting firm posts

Deloitte revenue down, employees up ... mystery behind the numbers

Posted Oct 26th 2009 2:40PM by Tom Johansmeyer (RSS feed)
Filed under: Earnings Reports

Brutal economic conditions unsurprisingly hit global accounting giant Deloitte Touche Tohmatsu this year.

The firm reports that revenue for fiscal 2009 (which ended May 31) fell 4.9% from the year before, settling at $26.1 billion. A decline in deal flow and the economic downturn around the world are cited as the primary reasons for the performance. Only the consulting business posted a gain. At the same time, Deloitte's workforce grew globally by 40,000 to 169,000, but the net increase masks a turbulent year for the employees.

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Accenture hits a bogie

Posted Mar 27th 2009 1:00PM by Tom Taulli (RSS feed)
Filed under: Earnings Reports, Recession

For the most part, it looked like Accenture (NYSE: ACN) was weathering the economic storm. But according to the consulting firm's recent quarterly conference call, things drastically changed from December to January.

Just look at the results: Revenues fell 6.6% to $5.66 billion. However, the major flash point was bookings. That is, total bookings dropped 7.1% to $5.98 billion and consulting bookings were down 17% to $3.14 billion.

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