Epam Systems（EPAM）今日盘前股价大幅下挫8.84%，引发市场高度关注。
消息面上，公司发布了全年业绩展望，预计调整后运营收入将占营收的15.5%至16.0%。这一利润率指引区间可能低于部分投资者的预期，成为盘前抛压加重的直接诱因。
此前，公司公布的二季度财报显示，调整后每股收益和营收均超出市场预期，但市场对AI合作落地等利好已提前消化——7月底宣布加入OpenAI合作伙伴网络后股价曾上涨6.7%。此外，Morgan Stanley曾警告公司面临客户可自由支配支出疲软的压力，Jefferies也在5月将评级下调至持有，机构对增长持续性态度偏谨慎。在多重因素叠加下，即便业绩超预期，市场仍选择获利了结，导致盘前跌幅显著扩大。
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