Latest news with #software services
CNA
5 days ago
- Business
- CNA
Software provider EPAM lifts annual forecasts on AI-driven demand
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 per cent 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 per cent and 15 per cent, up from its previous forecast of 11.5 per cent to 14.5 per cent. Analysts on average were expecting 2025 revenue to increase 13.4 per cent, 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 per cent 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.
Reuters
5 days ago
- Business
- Reuters
Software provider EPAM lifts annual forecasts on AI-driven demand
Aug 7 (Reuters) - EPAM Systems (EPAM.N), opens new tab 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.
Yahoo
5 days ago
- Business
- Yahoo
Software provider EPAM lifts annual forecasts on AI-driven demand
(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. 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
15-07-2025
- Business
- Yahoo
India's HCLTech slides on lower operating margin forecast
(Reuters) -Shares of HCLTech dropped about 3% on Tuesday after India's No.3 software services provider lowered its annual operating margin forecast, dampening hopes of a rebound in client spending across the sector. On Monday, HCLTech reduced its annual operating margin forecast to a range of 17% to 18% from a previous projection of 18% to 19% for fiscal year 2026.
CNA
15-07-2025
- Business
- CNA
India's HCLTech slides on lower operating margin forecast
Shares of HCLTech dropped about 3 per cent on Tuesday after India's No.3 software services provider lowered its annual operating margin forecast, dampening hopes of a rebound in client spending across the sector. On Monday, HCLTech reduced its annual operating margin forecast to a range of 17 per cent to 18 per cent from a previous projection of 18 per cent to 19 per cent for fiscal year 2026.
