Globant S A - GLOB STOCK NEWS

Globant S.A. (NYSE: GLOB) filed its 2020 Annual Report on Form 20-F with the SEC on February 26, 2021. This report includes audited financial statements for the year ending December 31, 2020. Interested shareholders can access the report online at the SEC's website or the Company's investor relations page. Hard copies of the financial statements are available upon request. Globant is recognized for its innovative tech services, employing over 16,250 staff in 16 countries, serving clients such as Google and Santander.

Globant reported fourth quarter 2020 revenues of $232.6 million, a year-over-year increase of 26.2%. IFRS Diluted EPS reached $0.46 compared to $0.35 in Q4 2019. For the full year, revenues totaled $814.1 million, up 23.5% year-over-year, with an IFRS Diluted EPS of $1.37, down from $1.43. The company projects first quarter 2021 revenues to exceed $258 million and FY 2021 revenues of at least $1,047 million. Robust hiring and low attrition levels are positive indicators for future growth.

Globant (NYSE: GLOB) will announce its fourth quarter and full year financial results for 2020 on February 18, 2021, after market close. The announcement will be followed by a video conference with CEO Martin Migoya and CFO Juan Urthiague at 4:30 PM ET to discuss the results. Globant, recognized as a leader in CX Improvement by IDC MarketScape, employs over 14,300 people across 16 countries and works with major companies like Google and Electronic Arts. Additional details can be found on their official website.

Globant (NYSE: GLOB) has appointed Michael Feathers as its new Chief Architect as of January 7, 2021. Feathers, a recognized authority in modernizing legacy code, will enhance Globant's capabilities in creating and delivering digital products. He is known for his contributions to the agile movement and has worked with top organizations to improve software design. His expertise aligns with Globant's mission of driving digital transformation for clients. The company continues to expand its global presence with over 14,300 employees and partnerships with major firms like Google.

Globant (NYSE: GLOB) announced the acquisition of Spain-based Bluecap, a consultancy specializing in advanced analytics for financial institutions, on December 18, 2020. This deal enhances Globant's presence in Europe and bolsters its consulting services. Bluecap will retain its brand identity, and its CEO, Maite Barrera, will join Globant's executive team. The acquisition aims to leverage Bluecap's expertise in risk management and analytics to transform organizations, especially in the financial sector.

Globant (NYSE: GLOB) has launched the Sustainable Business Studio, aimed at assisting clients in adapting to the green economy. This initiative merges digital technology with sustainability, offering tools for climate action and responsible business practices. Led by Elena Morettini, the Studio will focus on carbon neutrality, cultural transformation, and climate risk analysis. Globant emphasizes a holistic approach to sustainability that integrates the well-being of people, profit, and the planet.

Globant (GLOB) reported third quarter 2020 revenues of $207.2 million, a 20.9% increase year-over-year. However, the IFRS Gross Profit margin decreased to 37.1% from 38.7% in Q3 2019 and diluted EPS fell to $0.30 from $0.40 in the same period. For the nine months ended September 30, revenues grew to $581.5 million, a 22.4% increase, but the IFRS Gross Profit margin dropped to 37.0%. Fourth quarter 2020 revenue is estimated at least $220 million, reflecting a 19.4% year-over-year growth.

Globant (NYSE: GLOB) announces its commitment to become carbon neutral by the end of 2021, building on its 2020 pledge to transition to renewable energy. This initiative is part of the company's Be Kind program, focused on sustainability and reducing environmental impact. Globant aims to neutralize emissions through innovative projects and demonstrates its leadership in digital transformation. The firm has also implemented recycling and awareness programs at its development centers while committing to promote diversity and accessibility.