Epam: Q3 Earnings Snapshot

Associated Press Finance
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NEWTOWN, Pa. (AP) — NEWTOWN, Pa. (AP) — Epam Systems Inc. (EPAM) on Thursday reported third-quarter net income of $97.2 million.

On a per-share basis, the Newtown, Pennsylvania-based company said it had profit of $1.65. Earnings, adjusted for stock option expense and non-recurring costs, came to $2.73 per share.

The results surpassed Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $2.56 per share.

The information technology services provider posted revenue of $1.15 billion in the period, also beating Street forecasts. Nine analysts surveyed by Zacks expected $1.14 billion.

For the current quarter ending in December, Epam expects its per-share earnings to range from $2.47 to $2.55.

The company said it expects revenue in the range of $1.13 billion to $1.14 billion for the fiscal fourth quarter.

Epam expects full-year earnings in the range of $10.31 to $10.39 per share, with revenue ranging from $4.66 billion to $4.67 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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