Breaking News
Jun 5, 2023
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EPAM Systems Inc declined 19.9% to $208.30 after the software developer lowered its sales and earnings outlook for the second quarter and full year.
Revenue in the first quarter increased 3.4% to $1.21 billion from $1.17 billion but net income rose to $102.3 million from $89.7 million and diluted earnings per share advanced to $1.73 from $1.52 a year ago.
For the full year, EPAM lowered its revenue estimate in the range of $4.95 billion to $5.0 billion and diluted earnings per share in the range of $8.11 to $8.31.
For the second quarter the company lowered its revenue estimate in the range of $1.195 billion to $1.205 billion and diluted earnings per share in the range of $1.82 to $1.90.
EPAM
