(Reuters) – Capgemini raised its annual growth forecast on Tuesday and published third-quarter revenue of 5.39 billion euros, up 2.9% at constant exchange rates, supported by an acceleration in demand in North America and growth in activities linked to artificial intelligence.
On the Paris Stock Exchange, the stock, driven by the prospects of an AI-powered recovery, gained 7.14% at 08:53 GMT, at the top of the CAC 40, and was heading towards its best daily performance since last April.
The French IT services group raised its 2025 revenue growth forecast at constant exchange rates to a range of +2.0% +2.5%, compared to -1.0% to +1.0% previously. However, it narrows its operating margin to between 13.3% and 13.4%, compared to 13.3% and 13.5%.
“The Group achieved a solid and better than expected third quarter, thanks to our targeted actions and our positioning as a technology partner integrating the power of AI,” said CEO Aiman Ezzat in a statement.
TPICAP Midcap analysts attributed the stock’s rise to the good performance of the Anglo-Saxon and emerging markets, which offset persistent difficulties in continental Europe, particularly in the automotive sector.
The broker highlights strong demand for the Cloud-Data-AI trifecta, as companies seek to gain operational efficiency and cost optimization.
“Capgemini’s recovery is based on a major strategic shift towards generative AI launched in July 2023,” indicates TPICAP Midcap, which estimates that 65% of Capgemini’s activities are now linked to digital services and the cloud.
North America posted growth of 7%, driven by financial services, telecoms, media and technologies, as well as industry, particularly in life sciences, specifies Capgemini.
On the other hand, France remains under pressure (-4.7%), with persistent weakness in the industrial sector which continues to weigh on performance. The most dynamic offers concern the cloud, data and artificial intelligence, according to the group.
Capgemini has also finalized the acquisition of the American group WNS for $3.3 billion, in order to strengthen its presence in intelligent operations based on agentic AI.
“Today, we started to sign some nice contracts and a very nice contract in prospect to be finalized by the end of the year. We will see the first very interesting fruits of this acquisition in the months to come,” declared general manager Aiman Ezzat during a conference call.
(Written by Noémie Naudin with Leo Marchandon, edited by Kate Entringer)
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