KPMG Posts $38 Billion in Fees Amid Stalled Advisory Growth (1)

KPMG reported Tuesday that fees across its global network brought in $38.4 billion in 2024 for the Big Four firm despite a sluggish advisory business that weighed down growth.

Revenue grew 5.1% in local currency during the firm’s last fiscal year that ended on Sept. 30, KPMG said. In comparison, the firm posted $36.4 billion and 8% growth a year ago.

Fee growth similarly stalled among the firm’s Big Four competitors—Deloitte, Ernst & Young and PwC—this year, down sharply from double-digit growth in 2023 as the industry grapples with a still-sluggish market for lucrative consulting services. ...