EY Fees Rise Steady 4% Driven by Tariff Swings, AI Surge (1)

Ernst & Young on Wednesday reported steady 4% revenue growth in 2025, buttressed by a surge in demand for tariff support and AI services.

Fees climbed to $53.2 billion in the global accounting and advisory firm’s fiscal year that ended in June—EY’s first under the leadership of Chair Janet Truncale. By comparison, the firm generated $51 billion in 2024, a 3.9% increase over the prior year.

The Big Four firm’s global tax business led its service lines with 5.5% growth, followed by its consulting practice, which saw fees rise 5.2% over the prior year. Assurance revenues grew 3.5 % and its Parthenon strategy and transaction business, the firm’s smallest service line, declined slightly amid a lackluster deals market.

Rising trade costs have been a boon to the firm as companies seek help with taxes and supply chain decisions to keep up with shifting tariff policies, the firm said.

EY is focused on its managed services and providing AI-backed offerings to support clients through a “changing business environment,” Truncale said in a statement.

Truncale’s strategy for the firm aims to leverage its traditional practices while also focusing on higher-demand areas like sustainability and technology transformation.

Meanwhile, the firm’s AI-related revenues jumped 30% and the firm is looking to strengthen alliances with technology providers and other industry partners that drive more than half of the firm’s revenue growth.

The firm expects to spend more than $1 billion annually to build out its suite of AI-backed products, including hundreds of autonomous agents. The firm has also launched new generative AI tools for its global audit practice and partnered with the chip manufacturer Nvidia to leverage AI for its tax practice.

The firm’s region that includes Europe, India and the Middle East grew 5% to $21.1 billion in fees while revenue for its Americas regions—the firm’s largest—rose 3.3% to $24.7 billion.

EY’s global workforce grew more than 3% to 406,000, the firm said.

Competitor Deloitte, the largest of the four firms, earlier this month reported a 5% jump in fees with revenue hitting $70.5 billion. PwC and KPMG have yet to report their results.