French IT services giant Capgemini reported first-quarter revenue growth of 7% at constant exchange rates, meeting company guidance as artificial intelligence continues to reshape its business model.
Quarterly revenue reached 5.9 billion euros, while bookings rose 6.2% year-over-year to 6 billion euros. Without currency headwinds, Capgemini said revenue growth would have been closer to 11%.
CEO Aiman Ezzat highlighted that generative and agentic AI now represent more than 10% of total group bookings, signaling how rapidly AI-focused services are becoming central to the company’s growth strategy. Capgemini’s partnerships with major US technology firms, including Google, along with its new Frontier Alliance with OpenAI, were cited as major contributors.
North America was the company’s strongest-performing region, with 20.7% growth driven largely by the integration of newly acquired AI-focused business WNS. In contrast, French domestic sales declined 1%, while broader European markets posted modest 1.7% growth.
Capgemini’s workforce expanded 23% year-over-year to 421,000 employees, reflecting WNS integration and broader expansion.
The company reaffirmed its full-year growth target of 6.5% to 8.5%, reinforcing confidence that AI transformation, enterprise modernization, and strategic US partnerships will continue driving momentum despite regional disparities.
Capgemini’s results also underscore a broader industry reality: rather than prioritizing European tech independence, many large IT service firms are doubling down on collaboration with dominant US AI ecosystems to remain competitive.
