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Deloitte today disclosed that it generated $64.9 billion in revenue during its most recent fiscal year, which officially wrapped up on May 31.

Deloitte boss Joe Ucuzoglu commented in a prepared statement that “in an environment of increasing complexity and an accelerated pace of technology-driven change around the globe, Deloitte’s unrivaled breadth of expertise within our multidisciplinary model continues to differentiate us in the marketplace.”

One key takeaway from the firm’s lengthy earnings announcement is that its consulting business remained a key driver of revenue growth during fiscal 2023.

Deloitte’s consulting business is essentially a management consulting firm with in-house outsourced IT services shop. It helps big corporations with a variety of projects ranging from the implementation of cost-cutting initiatives to the rollout of new SaaS productivity applications.

Deloitte’s consulting business increased its revenue by 19.1% year-over-year in fiscal 2023, which made it the fastest growing part of the firm.

Deloitte didn’t go into the specifics of what business activity generated how much revenue. But it did disclose that its mergers and acquisitions team achieved solid revenue growth.

This shoutout is notable because very few other units received a similar mention in the press release. That would suggest Deloitte’s mergers and acquisitions team didn’t simply increase its top line, but experienced particularly strong revenue growth compared with the firm’s other units. 

The runner-up in the revenue growth contest was Deloitte’s risk advisory unit. This unit has two main focus areas: it assists companies with the creation of sustainability initiatives and it protects those companies’ networks against hacking attempts.

The risk advisory unit grew its top line by 17.5% in fiscal 2023.

Broken down by region, the Americas represented Deloitte’s fast-growing market. Clients in the region upped their spending with the firm by 17.5% compared with fiscal 2022.

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