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)
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