EPAM Systems Inc Earnings: Here’s Why Investors Like These Results
EPAM Systems Inc (NYSE:EPAM) delivered a profit and beat 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 down 0%.
EPAM Systems Inc Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 12.9% to $0.35 in the quarter versus EPS of $0.31 in the year-earlier quarter.
Revenue: Rose 31.6% to $124.2 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: reported adjusted EPS income of $0.35 per share. By that measure, the company beat the mean analyst estimate of $0.34. It beat the average revenue estimate of $123.83 million.
Quoting Management: “We continue to execute our strategy which is focused on complex, industry-driven solutions and high quality software engineering services, both of which are in strong demand in today`s rapidly changing technology environment. Our solid performance is due in large part to our ability to execute this strategy while continuing to invest in qualified professionals, productivity tools and long-term client relationships. As a result of these initiatives, we continue to gain market share within our existing customer base, expand our client base across virtually all of our geographies and verticals, and deliver double digit revenue growth,” commented Arkadiy Dobkin, CEO and President of EPAM Systems.
Key Stats (on next page)…