Capgemini posts better-than-expected Q3 sales growth1 min read . Updated: 27 Oct 2020, 12:04 PM IST
- The group said it expected the fourth quarter to show a further but limited improvement.
French consulting and IT services provider Capgemini on Tuesday posted an 18.4% increase in third quarter revenues at constant exchange rates, helped by strong bookings and growth in its digital and cloud offerings.
Capgemini reported better-than-expected quarterly revenues at 4.01 billion euros ($4.74 billion).
The group said it expected the fourth quarter to show a further but limited improvement.
Capgemini, which offers services to industries ranging from telecom to aerospace, confirmed its full-year targets, which include revenue growth between 12.5% and 14.0%, adding it should exceed the mid-point of the range.
Aiman Ezzat, Chief Executive Officer of Capgemini Group, said: “The quarter, which came in better than expected, brought a significant performance improvement over Q2 across all our regions and businesses. Digital and Cloud continues to expand, up more than 10% year-on-year, and bookings remain strong."
Capgemini expects "Q4 to confirm this favorable trend and record a further but limited improvement, due to recent developments in the health situation. In this framework, our performance for 2020 should exceed the mid-point of the range announced, both for growth and operating margin, and we remain confident in the prospects for further improvement in 2021," CEO Ezzat said.
"All group businesses and regions contributed to this improvement. It also reflects demand, which accelerated once again in Digital and Cloud services. With growth of more than 10%, these activities accounted for over 60% of the Group’s activity in Q3 20201," Capgemini