- EPAM Systems Inc (NYSE:EPAM) reported fourth-quarter FY21 revenue growth of 53.1% year-on-year to $1.107 billion, beating the consensus of $1.08 billion. Acquisitions completed in the last twelve months contributed 8.7% to revenue growth.
- EPAM is a digital transformation service and product engineering company.
- Non-GAAP income from operations was $206 million, up 52% Y/Y. The non-GAAP operating margin was flattish at 18.6%.
- Non-GAAP EPS of $2.76 beat the consensus of $2.51.
- EPAM generated $285 million in operating cash flow. EPAM held $1.45 billion in cash and equivalents.
- Arkadiy Dobkin, the CEO, said, "In 2021, we expanded in consulting and industry domains and added depth in critical engineering disciplines like data, cybersecurity, and AI."
- Outlook: EPAM sees FY22 revenue of at least $5.15 billion (consensus $4.86 billion) and non-GAAP EPS of $11.36 - $11.69 (consensus $11.16).
- For Q1, EPAM expects revenues of $1.170 billion - $1.180 billion (consensus $1.11 billion), and non-GAAP EPS of $2.58 - $2.66 (consensus $2.56).
- Price Action: EPAM shares closed lower by 2.63% at $450.39 on Wednesday.
Get all your news in one place.
100’s of premium titles.
One app.
Start reading
One app.
Get all your news in one place.
100’s of premium titles. One news app.
EPAM's Q4 Performance Exceed Expectations; Guides Q1, FY22 Above Consensus
Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member?
Sign in here
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member?
Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member?
Sign in here
Our Picks