EPAM Systems Earnings: Here’s Why the Stock is Rising Now
EPAM Systems Inc (NYSE:EPAM) delivered a profit and met Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 0.95%.
EPAM Systems Inc Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 8.11% to $0.4 in the quarter versus EPS of $0.37 in the year-earlier quarter.
Revenue: Rose 28.3% to $133.18 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: EPAM Systems Inc reported adjusted EPS income of $0.4 per share. By that measure, the company missed the mean analyst estimate of $0.4. It beat the average revenue estimate of $132.04 million.
Quoting Management: “Our differentiated business model and focus on emerging technology trends has given us a clear competitive advantage in the marketplace and helped us to produce another quarter of industry-leading revenue growth. We continue to see strong demand for our complex software engineering services across our vertical markets from both new and existing clients,” commented Arkadiy Dobkin, CEO and President of EPAM Systems, Inc.
Key Stats (on next page)…