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Free Research Report as Globant Delivered Record Revenues; Adjusted EPS Soared 52%

Stock Monitor: Formula Systems (1985) Post Earnings Reporting

LONDON, UK / ACCESSWIRE / June 19, 2018 / If you want access to our free earnings report on Globant S.A. (NYSE: GLOB), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=GLOB. The Company reported its first quarter fiscal 2018 operating and financial results on May 10, 2018. The information technology services provider outperformed top- and bottom-line expectations. Additionally, the Company provided guidance for the upcoming quarter and fiscal year. Register today and get access to over 1,000 Free Research Reports by joining our site below:

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Active-Investors.com is currently working on the research report for Formula Systems (1985) Ltd (NASDAQ: FORTY), which also belongs to the Technology sector as the Company Globant. Do not miss out and become a member today for free to access this upcoming report at:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Globant most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

www.active-investors.com/registration-sg/?symbol=GLOB

Earnings Highlights and Summary

For the three months ended March 31, 2018, Globant's revenues increased to a record $119.7 million, representing a growth of 34.9% compared to $88.7 million in Q1 2017. This solid growth in revenues was driven by both the Company's top 10 and non-top 10 accounts, which increased by 37.3% and 33.0%, respectively, compared to Q1 2017. Globant's revenue numbers beat analysts' estimates of $114.1 million.

During Q1 2018, Globant's non-IFRS adjusted gross profit was $46.8 million and its non-IFRS adjusted gross profit margin was 39.1% compared to $34.6 million and 39.0%, respectively, in Q1 2017.

Globant reported a net income of $10.3 million, or $0.28 per diluted share, in Q1 2018 compared to $9.0 million, or $0.25 per diluted share, in Q1 2017. The Company's non-IFRS adjusted net income was $13.9 million, or $0.38 per share, in the reported quarter compared to $8.9 million, or $0.25 per diluted share, in the year earlier same quarter. Globant's earnings exceeded Wall Street's estimates of $0.34 per share.

Operating Details

Globant completed Q1 2018 with 6,940 Globers; 6,462 of whom were technology, design, and innovation professionals. For the reported quarter, the geographic revenue breakdown was 78.6% from North America (top country: US); 13.8% from Latin America and others (top country: Argentina); and 7.6% from Europe (top country: Spain). During Q1 2018, 85.5% of Globant's total revenues was denominated in US dollars, and the remaining 14.5% was denominated in other currencies, including Euros, GB Pounds, and other Latin American currencies.

During the last twelve months ended March 31, 2018, Globant served 348 customers; 89 of which accounted for more than $1 million of Globant's total revenues. Globant's top customer, top five customers, and top ten customers represented 11.1%, 31.3%, and 44.5%, respectively, of the total revenues for the reported quarter.

Cash Matters

As of March 31, 2018, Globant's cash and cash equivalents and investments amounted to $45.0 million; while its current assets amounted to $156.3 million, accounting for 43.3% of total assets for the same period.

Outlook

For the second quarter of the fiscal year 2018, Globant's revenues are estimated to be between $124 million and $126 million, implying a y-o-y growth of 25.5% at the midpoint of the range. For the upcoming quarter, the Company's non-IFRS adjusted earnings per share are estimated to be in the range of $0.36 - $0.40.

For the full fiscal year 2018, Globant is projecting revenues to be in the band of $502 million - $510 million, implying a y-o-y revenue growth of 22.4% at the midpoint of the range. For FY18, the Company's non-IFRS adjusted earnings per share are estimated to be in the band of $1.56 - $1.64.

Stock Performance Snapshot

June 18, 2018 - At Monday's closing bell, Globant's stock rose 1.99%, ending the trading session at $57.00.

Volume traded for the day: 335.67 thousand shares, which was above the 3-month average volume of 341.22 thousand shares.

Stock performance in the last month – up 12.18%; previous three-month period – up 9.57%; past twelve-month period – up 36.92%; and year-to-date – up 22.69%

After yesterday's close, Globant's market cap was at $2.00 billion.

Price to Earnings (P/E) ratio was at 64.85.

The stock is part of the Technology sector, categorized under the Information Technology Services industry. This sector was up 0.2% at the end of the session.

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