EY today announced combined global revenues of US$25.8 billion for its financial year ended June 30, 2013, a 7.7 percent increase over the previous financial year in local-currency terms. Revenues grew 5.8 percent in U.S. dollar terms.
Advisory achieved its third year of double-digit growth in fiscal year 2013, with revenue of US$5.8b and growth of 18 percent. These results reflect a strategic focus on leveraging all of EY's core consulting and technology competencies on delivering transformational Risk and Performance Improvement services in high-growth sectors, according to Mark Weinberger, EY's Global Chairman and CEO.
Meanwhile, the Transaction Advisory Services (TAS) service line grew by 3 percent to US$2.2B—the fourth consecutive year of growth at a time when global M&A activity continues to suffer sharp falls in virtually every market. Assurance, EY's largest practice, delivered a positive year growing revenues by over 4 percent to US$10.9B. EY's global Tax revenues increased over 7 percent to US$6.9B, marking a third consecutive year of strong growth.
EY's s Americas revenues were up by 10.4 percent with strong growth in both North and South America. The highlights included 10 percent growth in the U.S. and 24 percent growth in Brazil. This revenue increase was primarily driven by our Advisory and Financial Services practices, says Weinberger.
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