By Denny Jacob
Epam Systems shares rose 7.1% in premarket trading after the company raised its outlook for the year following better-than-expected revenue growth in its latest quarter.
Shares were trading around $170.50 before the bell. The stock is down 32% on the year as of Wednesday's close.
The Newtown, Pa., provider of digital engineering, cloud and artificial-intelligence services on Thursday forecast revenue growth between 11.5% to 14.5% for 2025, up from its prior forecast in the range of 10% to 14%. It also now expects adjusted earnings per share between $10.70 and $10.95, compared with its previous guide in the range of $10.45 to $10.75.
For the second quarter, Epam forecast revenue between $1.33 billion and $1.34 billion as well as adjusted earnings per share in the range of $2.56 and $2.64. Analysts polled by FactSet expected around $1.3 billion in revenue and adjusted earnings of $2.48 a share.
The guidance comes after the company reported net income of $73.5 million on revenue of $1.3 billion in the January-to-March period, compared with net income of $116.2 million on revenue of $1.17 billion in the prior-year period. Analysts polled by FactSet had expected $75.9 million in net income on $1.28 billion in revenue.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
May 08, 2025 06:48 ET (10:48 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.