Capgemini raises 2026 revenue growth outlook

Capgemini upgraded its 2026 revenue growth outlook after delivering another strong quarter, with Q3 revenues reaching €6,073 million. Revenue increased 11.7% at constant exchange rates and 12.6% at current exchange rates, while nine-month revenue rose 11.4% at constant exchange rates to €18,155 million. The update signals sustained demand for technology services despite a stable broader market environment. 💻

Q3 bookings came in at €5,401 million, up 3.4% at constant exchange rates. The bookings increase was slower than revenue growth, but management highlighted strong momentum in North America and the United Kingdom, alongside a clear acceleration in demand trends. Management said underlying growth remained close to the second quarter and continued to outperform the industry.

2026 revenue target raised

• Constant-currency revenue growth is now expected at 9.0% to 9.5%, compared with the earlier target of around 8.5% to 9.0%.

• Operating margin guidance remained unchanged at 13.6% to 13.8%.

• Organic free cash flow guidance was also unchanged at around €1.8 billion to €1.9 billion.

The unchanged profitability and cash-flow targets indicate that the upgrade is focused on stronger top-line momentum rather than a change in margin expectations. For the information technology services sector, the figures support the view that spending on digital transformation and related services remains resilient in key developed markets. 📈

Investors will now watch fourth-quarter bookings, regional demand in North America and the United Kingdom, and whether revenue momentum continues into 2027. The next results update will also show whether the higher growth trajectory is translating into operating leverage and cash generation. The company’s comments on demand conditions and the conversion of bookings into revenue will remain important indicators for the wider IT services sector. ⚙️

Source: Capgemini, 30 Oct 2026

Not investment advice. For informational purposes only.