New York, NY (PRWEB) -- Big4.com, the premier social networking forum for professionals and alumni of Accenture, Andersen, BearingPoint, Capgemini, Deloitte, Ernst & Young, KPMG and PricewaterhouseCoopers PwC announced today the release of the 2010 Big Four Firms Financial Performance Analysis, providing a detailed financial and operating analysis of the performance of the four largest accounting firms in the world. The analysis shows the firms returned to moderate increases in revenue in 2010 after severe revenue declines in 2009, as they rebounded from the aftermath of the global economic slowdown. 2009 marked an abrupt reversal of five straight years of double-digit revenue growth.
“After a difficult 2009, 2010 fiscal year saw a small increase in revenues for Deloitte, Ernst & Young, KPMG and PricewaterhouseCoopers, with revenues increasing between negative 0.9 and positive 2.6 percent from 2009, as firms were aided by a general global recovery, enhanced equity markets, improved credit conditions, and better M&A and IPO activity, all of which spurred client demand, especially for Advisory Services and in Asia. Revenues were generally flat in most developed regions, while growth bounced back to strong levels in emerging markets of Asia and Latin America.” stated David Hunter, Vice President at Big4.com. “Despite the limited data points that the firms report each year, our exclusive look at seven years of financial performance of these firms shows some very interesting trends and insights across firms, geographies and service lines.”
- 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.
From 2009 to 2010, combined revenues for all the four firms in US dollar terms rose 1.4%: Audit revenue was flat at 0%, Tax revenue decreased by 1%, but Advisory revenues increased strongly by 6%. The depreciating U.S. dollar over the reporting period helped firms post higher growth numbers in U.S. dollar terms. In local currency terms, revenues rose by smaller percentage levels. The analysis has further details on performance by global regions and by Audit, Tax and Advisory service lines, and outlook for 2011 and the future.
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The full study can be downloaded as Adobe pdf at http://www.big4.com/BigFourPerformanceAnalysis.html.
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