While not officially official yet, two of the Big 4’s global CEOs recently teased how good things were revenue-wise at their respective firms in 2022.
In an interview with the Financial Times earlier this month, PwC’s Bob Mortiz said the firm’s global revenue for its most recent fiscal year would be close to $50 billion, up from $45.1 billion in 2021.
PwC was still finalising its results for the 12 months to June 30 but expected to report that revenues rose by at least 10 per cent, he said. “Just about every business unit is up significantly.” The firm is expected to publish its global revenues in October.
BoMo told FT that PwC’s headcount rose by 32,000 to 327,000 worldwide during the year despite the loss of 10,000 people after selling its global mobility business and cutting ties with its Russian operations.
The other Big 4 firm that previewed its 2022 revenue was EY. During a global all-hands call last Thursday, Carmine Di Sibio told his troops that the firm brought in $45.4 billion during its most recent fiscal year that ended on June 30, according to FT. That’s a 13.6% increase over last year’s $39.95 billion. EY typically announces its global revenue in September.
PwC is the second largest Big 4 firm in terms of global revenue behind Deloitte, and EY is third largest ahead of KPMG. Deloitte usually drops its annual revenue announcement in September, while KPMG releases its annual revenue total in December.
As usual, we’ll cover the annual Big 4 dick-measuring contest once the firms officially release their 2022 revenue amounts, so stay tuned.
Have a good rest of your weekend.