EY Reports $51.2 Billion in Revenue for Fiscal Year 2024, Marking a 3.9% Increase
Foreks - EY reported a revenue of $51.2 billion for the fiscal year 2024, representing a growth of 3.9%. Today, with approximately 400,000 employees worldwide, EY continues to enhance the services it provides to clients and has announced its new global strategy "All in," focusing on shaping the future with confidence and creating a better working world.
The international consulting, auditing, assurance, strategy, corporate finance, and tax services firm EY (Ernst & Young) has announced its fiscal year 2024 results, which ended in June. EY's global revenue reached $51.2 billion, reflecting a 3.9% growth.
The report highlights strategic collaborations aimed at creating long-term value for EY's clients, employees, and society, as well as environmental, social, and governance initiatives and disclosures.
Prominent for technology and artificial intelligence investments EY is investing in technology platforms and artificial intelligence (AI) to support its clients in navigating the ever-changing global challenges, fostering growth and transformation. The company’s award-winning technological platform, EY Fabric, is currently utilized by EY clients in 180 countries, boasting over 2 million users.
In September 2023, EY launched EY.ai, a platform that combines human talent and artificial intelligence. EY.ai leverages the expertise of leading EY technology platforms and talents in strategy, mergers and acquisitions, transformation, risk, assurance, and tax, supported by a robust AI ecosystem. Furthermore, EYQ, an AI-powered program capable of generating real-time content, was introduced in the EY global network in 2024. EYQ has also won several awards in the field of AI and innovation excellence.
EY plans to further integrate its artificial intelligence and technology platforms into corporate operations by 2025. Recently, the company made a $1 billion investment in pioneering technology platforms aimed at enhancing transparency and trust, introducing over 25 new Assurance Technology tools that include integrated AI technologies supported by EYQ and EY Fabric.
EY's partnerships and network of collaborators are strengthening To provide value to clients, EY is leveraging its capacity, high technology, data power, and connections through strategic partners in the corporate ecosystem. Over the last five years, EY has established over 100 new partnerships through its collaborators, with a significant portion of this figure achieved in 2024 due to the rapid expansion of its AI and industry-based structure.
All of these efforts account for 48% of EY's growth, while collaboration revenues have increased by 31% (compound annual growth rate) over the past five years.
Sustainability efforts at EY are accelerating With approximately 400,000 employees worldwide, EY is providing solutions to clients through 4,000 professionals focused on sustainability and climate change. At the same time, EY is making various initiatives to raise awareness among its employees aimed at reducing greenhouse gas emissions, achieving a 40% reduction in emissions in 2024 compared to 2019 levels. Additionally, EY has prevented approximately 98,000 tons of CO2 emissions, equivalent to around 20% of the greenhouse gas emissions addressed to date.
EY continues to create a positive impact for society Through projects under its corporate social responsibility initiative, EY Ripples, EY has positively impacted over 192 million lives since 2018 and aims to positively influence 1 billion lives by 2030. In 2024, more than 168,000 EY participants contributed to social responsibility initiatives benefiting over 64 million people. Additionally, EY has invested $169 million in social responsibility projects, and EY employees dedicated 934,000 hours to community empowerment projects.
EY is focused on confidently shaping the future with its new global "All in" strategy EY's new global strategy "All in" started being communicated internally and to clients by July. This strategy aims for transformation and sustainable growth through targeted investments across all service areas. The objective is underlined by the slogan "shaping the future with confidence," stemming from the goal of "creating a better working world." In this context, EY aims to double its financial figures in the coming year.