Capgemini Reports H1 2024 Earnings, Expects Annual Revenue Decline Amid North America, Auto, Aerospace Weakness

Capgemini has reported its H1 2024 earnings, revealing a revenue of EUR 11.14 billion, an operating profit of EUR 1.15 billion, and a net income group share of EUR 835 million. The French IT consulting group confirmed its FY 2024 operating margin and organic free cash flow targets. However, Capgemini now expects its annual revenue to fall, contrary to earlier expectations of a rise, primarily due to weakness in the North America market and downturns in the automotive and aerospace sectors. The company indicated that the slope of recovery in the second half of the year will be affected by recent market deterioration. The announcement was made on Friday.