On 6 October 2009, PricewaterhouseCoopers International Ltd. issued a press release on the aggregated revenues of the PwC Global Network of Firms for FY2009.
Among the main messages of the press release are the following:
- PricewaterhouseCoopers posts FY2009 global revenues of US$26.2 billion
- Total Revenues rise at constant exchange rates, but decline 7.1 per cent from previous year at adjusted rates
- Results demonstrate resilience of PwC member firms.
- Competitive pricing helps to grow market share in many markets
- Asia, South and Central America, Middle East and Africa perform well in tough economy.
Adjusting for currency changes, revenue fell in the firm's tax and advisory services business but rose slightly in its audit business.
PwC's audit and assurance business posted a 2 percent increase in revenue from a year ago, while the tax business was down by 0.3 percent. The firm's advisory business, which tends to be more cyclical, recorded a revenue decline of 2.9 percent as a slight increase in restructuring work failed to offset a sharp drop in income from deals and initial public offerings.
Revenue in South and Central America rose 13.3 percent, while Asia increased 5.4 percent.
In North America and the Caribbean, revenue slipped 1.2 percent while Western Europe was down 0.8 percent.
Despite the decline in revenue,
Global Chairman Dennis Nally said the company was able to increase market share in many of its businesses around the world.
"While we cut our costs substantially, the PwC network also hired about 30,000 new people and increased its total workforce to more than 163,000," Nally said in a statement.
A panel of Fortune 500 leaders and Senior executives from some of the world’s leading global companies have once again selected PricewaterhouseCoopers as a winner in the Most Admired Knowledge Enterprises (MAKE) study. 
