US | Big4
October 13, 2024
Deloitte Reports FY2024 Revenue of $67.2 Billion, Expands Workforce to 460,000
Tax & Legal achieved the fastest growth benefiting from Changing Regulatory Landscape and Pillar 2
| Image Credits: Deloitte's USA Headquarters, New York "30 Rockefeller Plaza" by Tydence
Deloitte announced its global revenue in September 2024, for the fiscal year ending May 31, 2024, reaching $67.2 billion, representing a 3.1% increase in local currency (and a 3.6% rise in USD) compared to the previous year. Despite a complex global economic environment, Deloitte maintained its growth trajectory while heavily investing in emerging areas of client demand.
Deloitte is modernizing its business structure for FY2025. The firm will organize its services into four key business units: Audit & Assurance, Tax & Legal, and two units focused on Consulting—Strategy, Risk & Transactions, and Technology & Transformation. This realignment aims to enhance Deloitte’s multidisciplinary approach and further integrate its offerings to address the most pressing issues for clients.
The FY2024 results, however, reflect the firm’s previous structure. Among its business lines, Tax & Legal achieved the fastest growth, with revenue up by 8.7% in local currency. Deloitte's Audit & Assurance practice followed, growing by 4.1%. Geographically, the EMEA region led growth with an 8.5% increase, while the Americas grew by 1.4%.
Deloitte's Tax & Legal practice benefited from advancements in Generative AI (GenAI) and global tax regulations, particularly the OECD’s Pillar 2 related work. These developments pushed tax services higher on corporate agendas, prompting demand for Deloitte’s tech-driven solutions in impact assessments, compliance, reporting, and process automation. Deloitte also continued to innovate with its Intela tax technology platform, which enhances tax management through integrated data collection, analysis, and process transformation.
In addition to tax services, Deloitte Legal practitioners helped businesses streamline legal considerations into their core operations, increasing efficiency and reducing legal risks. These combined efforts contributed to the strong revenue growth seen in the Tax & Legal division for FY2024.
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