PwC Posts $53 Billion in Fee Revenue as Tax, AI Alliances Boom

Greater need for expertise in complex tax laws coupled with demand for automation and artificial intelligence boosted PwC’s global revenues for its 2023 fiscal year nearly 10% in local currency over the previous year, the firm reported late Monday.

Total fee revenue rose to $53.1 billion for PwC’s fiscal year that ended June 30, up from $50.3 billion in 2022, a 5.6% rise in US currency, according to the firm. While lagging a pair of rival firms, PwC’s double-digit growth reflects the 2022 sale of its mobility and immigration service and the departure of its Russian affiliate.

“As ...