Shares of Globant SA (GLOB) tumbled 10.55% in after-hours trading on Thursday following the release of its third-quarter earnings report. The Luxembourg-based technology services company disappointed investors by missing analyst expectations on earnings per share (EPS).

Globant reported quarterly earnings of $1.53 per share, falling short of the analyst consensus estimate of $1.54 by 0.91%. This represents a 6.13% decrease compared to earnings of $1.63 per share from the same period last year. Despite the earnings miss, the company's quarterly sales came in at $617.143 million, slightly beating the analyst consensus estimate of $615.376 million by 0.29%. However, this only represents a modest 0.40% increase over sales of $614.667 million in the same period last year.

The significant after-hours drop suggests that investors were particularly concerned about Globant's earnings decline and its ability to meet growth expectations in a challenging economic environment. As the company continues to navigate market uncertainties, investors will be closely watching for any guidance on future performance and strategic initiatives to boost profitability.