French IT consultancy Capgemini reported first-quarter revenue growth on Thursday, saying its cloud computing and data activities grew as customers digitally transformed. The company, which provides consulting, digital, technology, and engineering services, reported first-quarter revenue of 5.17 billion euros ($5.44 billion), up 17.7 per cent in constant currency.

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Bookings for the January-March period totalled EUR 5.47 billion, increasing 26 per cent compared to the same period last year at constant exchange rates. Benefiting from a shift to cloud-based computing, Capgemini reported higher-than-expected earnings. Still, it warned that higher wage pressures and the cost of employees returning to the office would hit profits in 2022. The Paris-based group had 340,700 employees at the end of March, up 24 per cent from a year earlier.