Latest news with #BalazsFejes
The Star
5 days ago
- Business
- The Star
Software provider EPAM lifts annual forecasts on AI-driven demand
Figurines with computers and smartphones are seen in front of EPAM logo in this illustration taken, February 19, 2024. REUTERS/Dado Ruvic/Illustration (Reuters) -EPAM Systems raised its annual revenue and profit forecasts on Thursday, encouraged by strong demand for its software services as enterprises continue to invest heavily in artificial intelligence technologies. Shares of the company, which provides a wide range of IT services including consulting, cloud and AI transformation and software engineering, rose more than 5% in premarket trading after it also topped estimates for second-quarter results. Despite global economic tensions companies are still spending on software services to ramp up their AI offerings and integrate AI within their operations, driving demand at EPAM. EPAM saw strong demand from clients in industries such as financial services, software, healthcare and consumer goods in the quarter, posting revenue increases across major industry verticals, as well as across geographies. "As our clients prioritize their AI-readiness and preparatory actions, they are increasingly turning to us to build out their data and AI foundation," said Chief Revenue Officer Balazs Fejes, who is taking over as CEO from September. Newtown, Pennsylvania-based EPAM now expects annual revenue growth at between 13% and 15%, up from its previous forecast of 11.5% to 14.5%. Analysts on average were expecting 2025 revenue to increase 13.4%, according to data compiled by LSEG. EPAM projected adjusted earnings per share in the range of $10.96 to $11.12 for the year, compared with its prior forecast of $10.70 to $10.95. Analysts were estimating $10.85 per share. The company's third-quarter revenue forecast of $1.37 billion to $1.38 billion also came in above estimates. Adjusted profit is expected to be in the range of $2.98 to $3.06 per share, also ahead of market expectations. For the second quarter ended June 30, EPAM's revenue jumped 18% to $1.35 billion, beating estimates of $1.33 billion. Excluding one-off items, per-share profit was $2.77, above estimates of $2.61. (Reporting by Deborah Sophia in Bengaluru; Editing by Maju Samuel)
Malaysian Reserve
15-07-2025
- Business
- Malaysian Reserve
EPAM Secures Multi-Year Deal with States of Guernsey to Transform the Island's Digital Services with ServiceNow PSDS
In a multi-part agreement, EPAM will help the States of Guernsey shape the future of digital government services utilizing ServiceNow® PSDS NEWTOWN, Pa., July 15, 2025 /PRNewswire/ — EPAM Systems, Inc. (NYSE: EPAM), a leading digital transformation services and product engineering company, today announced a multi-year partnership with the States of Guernsey. This collaboration is a key component of Guernsey's new digital strategy, which aims to enhance the security, accessibility and user experience of government services while optimizing decision-making processes and more efficient public service delivery. 'This is a significant milestone for EPAM, as it highlights our continued growth in the region,' said Balazs Fejes, President of Global Business & Chief Revenue Officer at EPAM. 'We are excited to partner with the States of Guernsey to help define the future of digital government services. As a trusted ServiceNow partner and a preferred systems integration (SI) provider for PSDS, we are well-equipped to deliver innovative solutions that support their ambitious digital transformation goals.' With a strategic partnership in place, EPAM is positioned to help Guernsey achieve its ambitious digital strategy goals of having 75% of public interactions and 80% of payments online by 2029. Leveraging ServiceNow1 Public Sector Digital Services (PSDS), EPAM is set to enhance the government's digital services, ensuring they are secure, accessible and user-friendly. As a preferred systems integration (SI) provider for PSDS, EPAM will accelerate digital transformation by seamlessly integrating employees, processes and systems into a unified, AI-powered platform. 'Digitization is crucial for us as a government to drive progress and improve ease and access to public services for our community, which is why we're pleased to partner with EPAM,' said Gé Drossaert, the States' Chief Digital and Information Officer. 'Digital is no longer just about IT systems—it's about transforming how islanders live, connect and work.' 'We are excited to collaborate with EPAM in supporting the States of Guernsey's ambitious digital transformation goals,' said Casey Coleman, VP, Global Public Sector at ServiceNow. 'Their vision of 'making all our lives easier and more straightforward' aligns perfectly with the innovations and capabilities of our Public Sector Digital Services (PSDS) on the ServiceNow Platform. Together, we will enhance user experiences, build public trust and drive greater workforce engagement and productivity.' To learn more about how EPAM is shaping the future of business with modern engineering, visit About EPAM Systems Since 1993, EPAM Systems, Inc. has used its software engineering expertise to become a leading global provider of digital engineering, cloud and AI-enabled transformation services, and a leading business and experience consulting partner for global enterprises and ambitious startups. We address our clients' transformation challenges by focusing EPAM Continuum's integrated strategy, experience and technology consulting with our 30+ years of engineering execution to speed our clients' time to market and drive greater value from their innovations and digital investments. We leverage AI and GenAI to deliver transformative solutions that accelerate our clients' digital innovation and enhance their competitive edge. Through platforms like EPAM AI/RUN™ and initiatives like DIALX Lab, we integrate advanced AI technologies into tailored business strategies, driving significant industry impact and fostering continuous innovation. We deliver globally but engage locally with our expert teams of consultants, architects, designers and engineers, making the future real for our clients, our partners, and our people around the world. We believe the right solutions are the ones that improve people's lives and fuel competitive advantage for our clients across diverse industries. Our thinking comes to life in the experiences, products and platforms we design and bring to market. Added to the S&P 500 and the Forbes Global 2000 in 2021 and recognized by Glassdoor and Newsweek as Most Loved Workplace, our multidisciplinary teams serve customers across six continents. We are proud to be among the top 15 companies in Information Technology Services in the Fortune 1000 and to be recognized as a leader in the IDC MarketScapes for Worldwide Experience Build Services, Worldwide Experience Design Services and Worldwide Software Engineering Services. Learn more at and follow us on LinkedIn. Forward-Looking Statements This press release includes estimates and statements which may constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the accuracy of which are necessarily subject to risks, uncertainties, and assumptions as to future events that may not prove to be accurate. Our estimates and forward-looking statements are mainly based on our current expectations and estimates of future events and trends, which affect or may affect our business and operations. These statements may include words such as 'may,' 'will,' 'should,' 'believe,' 'expect,' 'anticipate,' 'intend,' 'plan,' 'estimate' or similar expressions. Those future events and trends may relate to, among other things, developments relating to the war in Ukraine and escalation of the war in the surrounding region, political and civil unrest or military action in the geographies where we conduct business and operate, difficult conditions in global capital markets, foreign exchange markets, global trade and the broader economy, the adoption and implementation of artificial intelligence technologies by EPAM and its clients, and the effect that these events may have on client demand and our revenues, operations, access to capital, and profitability. Other factors that could cause actual results to differ materially from those expressed or implied include general economic conditions, the risk factors discussed in the Company's most recent Annual Report on Form 10-K and the factors discussed in the Company's Quarterly Reports on Form 10-Q, particularly under the headings 'Management's Discussion and Analysis of Financial Condition and Results of Operations' and 'Risk Factors' and other filings with the Securities and Exchange Commission. Although we believe that these estimates and forward-looking statements are based upon reasonable assumptions, they are subject to several risks and uncertainties and are made based on information currently available to us. EPAM undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities law. 1 ServiceNow, the ServiceNow logo, Now, Now Platform, and other ServiceNow marks are trademarks and/or registered trademarks of ServiceNow, Inc. in the United States and/or other countries. Other company names, product names, and logos may be trademarks of the respective companies with which they are associated. Photo: View original content:
Yahoo
08-05-2025
- Business
- Yahoo
EPAM Systems (NYSE:EPAM) Reports Revenue Growth But Decline In Net Income
EPAM Systems recently announced that its Principal Founder Arkadiy Dobkin will transition to Executive Chairman, while Balazs Fejes will assume the role of CEO later this year. This leadership change follows EPAM's Q1 earnings report, which showed increased sales but a drop in net income and EPS. The company's stock rose 10% over the last month, influenced by positive market trends driven by a new U.S.-U.K. trade deal. Additionally, EPAM's updated revenue guidance, projecting notable growth, and expanded collaboration with Amazon Web Services, likely added weight to the positive market movement. Every company has risks, and we've spotted 1 weakness for EPAM Systems you should know about. We've found 19 US stocks that are forecast to pay a dividend yield of over 6% next year. See the full list for free. EPAM Systems' leadership transition, involving Arkadiy Dobkin and Balazs Fejes, arrives at a critical juncture as the company aims to expand its AI initiatives and global footprint. These changes could bolster its service offerings and revenue streams, aligning with the growing demand for AI transformation. However, geopolitical risks and pricing pressures pose challenges to these ambitions. The increased sales and partnerships mentioned earlier may positively impact future earnings forecasts, yet the company's long-term performance has been mixed. Over the past five years, EPAM's total return dropped by 24.91%, reflecting challenges in sustaining growth and profitability over the extended period. In contrast, the company's performance relative to the US IT industry shows it underperformed, with the IT industry returning 18.3% over the past year compared to EPAM's own performance. A key issue is whether the updated revenue guidance and expansion strategy can support the analyst consensus price target of US$213.97. Given the current share price of US$157.88, there is a potential for a significant rise, but this depends on executing growth strategies amidst market uncertainties. Analysts forecast a slower expected annual profit growth of 9.1% per year, which is below the US market average of 13.9%, potentially tempering some enthusiasm about meeting or exceeding projected price targets. Gain insights into EPAM Systems' past trends and performance with our report on the company's historical track record. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include NYSE:EPAM. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
08-05-2025
- Business
- Yahoo
EPAM Soars On Strong Q1 Earnings, Raised Guidance
EPAM Systems, Inc. (NYSE:EPAM) reported first-quarter 2025 results on Thursday. Its sales grew 11.7% year-over-year to $1.302 billion, beating the analyst consensus estimate of $1.28 billion. On an organic constant currency basis, revenue increased by 1.4% YoY. Adjusted EPS of $2.41 is down from $2.56 a year ago, but beat the consensus estimate of $2.27. Adjusted operating income for the quarter reached $175.8 million, up 1.2% YoY, and the margin stood at 13.5%, down from 14.9% company's operating cash flow for the first quarter dropped to $24.2 million from $129.9 million year over year. Total cash fell 8.7% to $1.179 billion from $1.290 billion at year-end 2024. EPAM repurchased 796,000 shares for $160 million in Q1 2025, with $277 million still authorized. Total headcount reached ~61,700, including ~55,600 delivery professionals, up 0.9% since December 2024. Second-quarter Outlook: EAPM expects revenue of $1.325 billion to $1.340 billion versus an estimated $1.30 billion, and adjusted EPS of $2.56 to $2.64 versus the $2.47 consensus. 2025 Outlook Raised: Revenue growth raised to 11.5% to 14.5% (or 2.0% to 5.0% organic, constant currency). The company now expects Sales Guidance of $5.27 billion to $5.41 billion (prior from $5.20 billion to $5.39 billion) versus the $5.27 billion consensus. The company expects Adjusted EPS of $10.70 to $10.95 (prior $10.45 to $10.75) versus the consensus of $10.50. It sees GAAP operating margin at 9.0% to 10% and non-GAAP at 14.5% to 15.5%. EPAM narrowed its GAAP EPS guidance from $6.78 to 7.08 to $6.78 to $7.00, compared to the $6.88 consensus. Additionally, EPAM announced that founder and CEO Arkadiy Dobkin will become Executive Chairman on September 1, 2025, with Balazs Fejes appointed as the new President and CEO to lead the company's next growth phase. Price Action: EPAM shares are trading higher by 13.7% to $180.98 at the last check on Thursday. Read Next:Photo by Jobs 51 via Shutterstock Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? EPAM SYSTEMS (EPAM): Free Stock Analysis Report This article EPAM Soars On Strong Q1 Earnings, Raised Guidance originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CNA
08-05-2025
- Business
- CNA
Software provider EPAM raises annual forecasts, announces CEO change
EPAM Systems raised its annual revenue and profit forecasts on Thursday, helped by steady enterprise demand for its IT consulting services, sending its shares up around 10 per cent in premarket trading. The company also said its founder and CEO Arkadiy Dobkin will transition to executive chairman on September 1, and revenue chief Balazs Fejes will take over as chief executive. EPAM's broad portfolio of consulting services helped it navigate a tough spending environment as enterprises pull back on non-essential tech projects. Larger rivals such as Accenture and IBM have been hit by federal deal cancellations as President Donald Trump's administration tries to curb government spending. The Newtown, Pennsylvania-based EPAM expects 2025 revenue growth in the range of 11.5 per cent to 14.5 per cent, up from the previous range of 10 per cent to 14 per cent. EPAM expects full-year adjusted earnings per share in the range of $10.70 to $10.95, compared with its prior forecast of $10.45 to $10.75. The company reported first-quarter revenue of $1.30 billion, beating estimates of $1.28 billion, according to data compiled by LSEG. It posted an adjusted profit per share of $2.41 for the three months ended March 31, compared with estimates of $2.27 per share. The company also forecast second-quarter revenue and adjusted profit per share above estimates. EPAM had bought FD Technologies' consulting unit in late 2024, in a bid to strengthen its presence in artificial intelligence-driven financial services.
