Capgemini Q3 gets North America revenue boost, raises revenue guidance

For the third quarter of 2025, Capgemini has posted a better-than-expected consolidated revenue of €5.39 billion, up +0.3% year-on-year on a reported basis, however, marginally down from € 5.5 bn in the second quarter. The total booking for the quarter, at €5.1 billion, is a sequential decline from €6.1 billion, owing to seasonality. With the North America region, its second-largest market segment, showing a healthy 7.0% year-on-year growth on the back of demand from the Financial Services, TMT (Telecoms, Media and Technology), and life science sectors, the company has raised its full-year revenue guidance for the second time this year.  

Starting the year with a revenue growth of -2.0% to +2.0% at constant currency, Capgemini narrowed it to -1.0% to +1.0% in the second quarter. With markets barring France and Europe showing better growth, along with the completion of WNS, whose numbers will start reflecting starting next quarter, the company has now raised the full year guidance to +2.0% to +2.5%. 

However, the company has tightened the operating margin guidance from the earlier 13.3% to 13.5% to 13.3% to 13.4%. On the profitability front, Aiman Ezzat, Chief Executive Officer of the Capgemini Group, sees pricing pressure and demand softness still persisting. “As long as the overall market is soft, people are really very aggressive on pricing. This is the current situation. This is not going to change unless the overall market expands at a faster pace. It’s our growth, but it’s also the growth of the overall market that has to be taken into account,” he said during the company’s earnings call.  

 Capgemini completed its $3.3 billion acquisition of WNS on October 17th, and consolidated revenue will now start to be reported from the fourth quarter. Updating on the integration, Ezzat said there are several cross-selling opportunities in the AI-driven BPS business, especially to the large clients in the insurance and banking sectors. “ In general, I think there are some very nice clients that we are not in the UK, in the US, in Australia, where we’re really going to start working on joint account planning and see what we can do in terms of a joint proposal,” he added.  

Earlier this month, Capgemini also announced changes to its India leadership team. Starting January 2026, Ashwin Yardi, the current CEO, will move out of the role to become non-executive Chairman of the board of Capgemini in India and Sanjay Chalke, the current  Chief Operating Officer (COO) for India, will take over as the new CEO. For the Paris-headquartered company, nearly 60% of its 3.5 lakh plus workforce sits in offshore locations, with Capgemini India accounting for nearly 1.8 lakh or nearly half of its workforce strength.