EPAM SYSTEMS, INC. - EPAM STOCK NEWS

EPAM Systems, Inc. (NYSE: EPAM) has been recognized as a leader in NelsonHall's 2022 NEAT Evaluation for Overall Salesforce Services, ranking as a top vendor in Marketing Cloud and Revenue Cloud services. This recognition reflects EPAM’s expertise in supporting Salesforce-driven digital transformations. With over 15 years in the industry and a team of 2,400+ global Salesforce experts, EPAM has enhanced its service offerings through acquisitions like PolSource and Ricston. The company maintains high customer satisfaction ratings and continues to innovate by expanding its service capabilities.

EPAM Systems reported third-quarter revenues of $1.227 billion, a 24.1% increase year-over-year. GAAP income from operations was 14.7% of revenues, with GAAP diluted EPS rising 34.9% to $2.63. Non-GAAP diluted EPS increased 28.1% to $3.10. For Q4, EPAM forecasts revenues between $1.220 billion and $1.230 billion, with GAAP diluted EPS projected at $2.02 to $2.10. The exit from the Russian market had an adverse impact on revenue growth, reducing it by 4.7%.

EPAM Continuum has published its third annual Consumer Banking Report, surveying 26,000 individuals across multiple countries. Key findings indicate that 51% of respondents used embedded finance products recently, while 85% utilized physical bank branches in the past year. However, interest in cryptocurrencies has declined, with 28% reporting recent purchases. The report highlights the industry's challenges, including economic volatility and shifting consumer preferences, as banks must adapt to maintain customer loyalty and engagement.

EPAM Systems, Inc. (NYSE: EPAM) will host a conference call on November 3, 2022, at 8:00 a.m. ET, to discuss its third quarter 2022 financial results. A news release with the results will be issued prior to the call. The conference call can be accessed live on the EPAM investor website. EPAM is recognized as a leading digital transformation services provider, serving clients globally and ranked among the top IT services companies.

EPAM Systems reported Q2 2022 revenues of $1.195 billion, up 35.6% from the previous year, driven by a 40.1% increase in constant currency. GAAP income from operations decreased to 7.8% of revenues, while Non-GAAP income was 14.9%. GAAP diluted EPS fell to $0.32, an 83.5% drop, attributed to currency effects and operational declines. Non-GAAP diluted EPS increased 16.1% to $2.38. For Q3, EPAM forecasts at least $1.210 billion in revenue and a GAAP diluted EPS of at least $1.65.

EPAM Systems has achieved Elite tier partner status from Snowflake, enhancing its position in the Snowflake Partner Network. This recognition acknowledges EPAM's expertise in delivering data-driven solutions and services, helping clients leverage cloud capabilities for competitive advantage. The company boasts a robust portfolio with over 300 Snowflake-certified professionals and has built more than 20 complex platforms. EPAM's partnership reflects its commitment to aiding businesses in their digital transformation journeys.

EPAM Systems, Inc. (NYSE: EPAM) has scheduled a conference call for August 4, 2022, at 8:00 a.m. ET to discuss its second quarter 2022 financial results. The results will be released prior to the call. Interested parties can access the live call via the company's website. EPAM, a leader in digital transformation services, has been recognized for its innovative strategies and client solutions, serving customers globally since 1993.