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NEW YORK - On Thursday, EPAM Systems (NYSE:EPAM) reported third-quarter results that exceeded analyst expectations and raised its full-year outlook.
The digital transformation services provider saw its shares rise 5.3% in pre-market trading after the
The company posted adjusted earnings of $3.08 per share for the third quarter, beating the analyst consensus of $3.03. Revenue came in at $1.39 billion, surpassing estimates of $1.37 billion and representing a 19.4% increase YoY. On an organic constant currency basis, revenue grew 7.1% compared to the same period last year.
"We are pleased to deliver another quarter of improving year-over-year organic constant currency revenue growth, driven by our deep engineering expertise and focus on helping clients build out their AI foundation and transform themselves into AI-Native organizations," said Balazs Fejes, CEO and President at EPAM.
Following the strong performance, EPAM raised its full-year 2025 guidance, now expecting revenue growth of 14.8% to 15.2%, up from its previous outlook of 14.0% at the midpoint. The company also increased its full-year adjusted EPS forecast to a range of $11.36 to $11.44, above the consensus estimate of $11.14.
The company’s operating margin on a GAAP basis was 10.4% of revenues, while non-GAAP operating margin stood at 16.0%. EPAM continued its capital return program, repurchasing $82.1 million of stock during the quarter and establishing a new $1 billion share repurchase plan.
For the fourth quarter, EPAM projects revenue between $1.38 billion and $1.395 billion, reflecting 11.1% growth at the midpoint, with adjusted EPS expected to be between $3.10 and $3.18.
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