EY expands its revenue in fiscal year 2021
For the fiscal year concluded in June 2021, EY’s total revenues amounted to $40 billion, a 7.3%—or 4.0% in local currencies—increase compared to the previous year. This growth was partially driven by the shift to virtual work arrangements, which reduced travel and lodging expenses for company operations. The company intends to expand its consulting services arm, EY-Parthenon, which posted 19.6% revenue growth during Fiscal 2021. Additionally, further investment is planned to improve the company’s auditing services while offering clients the improved capabilities offered by leading-class technologies such as AI.
New ActivityIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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