Epam: Q2 Earnings Snapshot

Associated Press Finance
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NEWTOWN, Pa. (AP) — NEWTOWN, Pa. (AP) — Epam Systems Inc. (EPAM) on Thursday reported second-quarter earnings of $120 million.

On a per-share basis, the Newtown, Pennsylvania-based company said it had net income of $2.03. Earnings, adjusted for stock option expense and non-recurring costs, were $2.64 per share.

The results topped Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $2.34 per share.

The information technology services provider posted revenue of $1.17 billion in the period, also exceeding Street forecasts. Nine analysts surveyed by Zacks expected $1.16 billion.

For the current quarter ending in September, Epam expects its per-share earnings to range from $2.52 to $2.60.

The company said it expects revenue in the range of $1.14 billion to $1.15 billion for the fiscal third quarter.

Epam expects full-year earnings in the range of $9.90 to $10.10 per share, with revenue ranging from $4.65 billion to $4.7 billion.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on EPAM at https://www.zacks.com/ap/EPAM

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