Your Big 4 Revenue Rundown (2010)
We realize that you look at numbers all day but what difference does a few more make?
Accordingly, we’ll call attention to Big 4 Blog’s performance analysis of the Four Horsemen’s fiscal year 2010.
• In 2010, Deloitte surpassed PricewaterhouseCoopers to become the largest Big Four firm, reporting revenues of $26.578 billion and growth of 1.8%, just ahead of PwC’s revenues of $26.569 billion and growth of 1.5%.
• Deloitte beat PwC by a small but significant margin of only $9 million.
• Ernst & Young placed third with 2010 revenues of $21.440 billion, but its revenues shrank 0.9% from 2009.
• KPMG remained the smallest firm with revenues of $20.630 billion, but had the highest growth at 2.6% and reduced the gap with Ernst & Young.
To summarize: Of course we knew about Deloitte dethroning P. Dubs for the top spot but with the margin of victory so close, it wouldn’t be shocking to see a one and done. Time will tell, time will tell. Additionally, you can see that KPMG had a nice a little rally from 2009 and E&Y, well, not only was E&Y the only firm with declining revenues, they have some other things to work out.
The 2010 Big Four Firms Performance Analysis [Big4.com]
Where are Deloitte’s Revenue Results?
Accountancy Age reports that P. Dubs still retains the most FTSE 100 clients in the UK while KPMG retains the largest amount of clients overall.
BFD, right? Stateside it’s all about the scratch. This begs the question of why the hell we haven’t seen any revenue results out of Deloitte yet. KPMG is too far out and P. Dubs and E&Y will be reporting next month.
But the Big Four Blog points out that Dr. Phil and Co. reported revenue in July last year but here we are approaching Labor Day (or for some, just the weekend) and not a peep.
We’ve contacted Deloitte about this and will update you with their response just as soon as we hear back. In the meantime, feel free to wildly speculate about the delay in the comments and what the fiscal year ’09 number will be. Last year global revenue was $27.4B so we’ll put over/under at $28.6B. Takers?
BDO Seidman’s Revenue Disappoints Us
BDO Seidman’s revenue for the fiscal year end June 30 dropped nearly 6% to $620 million and dammit, we’re disappointed. Sure tax revenue is up 6% but assurance revenue was down 9% and consulting revenue was down over 15%. What’s the reason for this? According to BDO’s CEO Jack Weisbaum it’s…wait for it…yes, the recession. What a news flash.
According to Web CPA, BDO’s revenue breakdown is 60/25/10 for audit/tax/consulting and the remaining 5% is a grab bag of stuff. Point is, BDO is a whore for audit and considering how the whole Banco Espirito thing turned out…
Speaking of Portuguese banks, BDO is still on the hook for $522 million. No word on how that fits into the firm’s plans to bounce back in fiscal year 2010.
BDO Seidman Revenue Falls Due to Recession [Web CPA]