secwatch.observer — SEC 8-K summary
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Issuer:     EPAM Systems, Inc. (EPAM)
CIK:        0001352010
Form:       8-K
Filed at:   2023-06-05T23:59:59+00:00
Accession:  0001352010-23-000029
Event type: earnings
Sentiment:  negative
Materiality: 0.78
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

EPAM cuts Q2 and FY 2023 guidance on demand softness; revenue now seen down 2%
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- Full year revenue guidance reduced to $4.650B–$4.800B, a 2% YoY decline at midpoint.
- Q2 revenue expected $1.160B–$1.170B, down 2.5% YoY at midpoint.
- Non-GAAP diluted EPS now $9.80–$10.20 for FY (was previously higher).
- CEO cites slower pipeline conversions and further client caution in IT services 'build' segment.
- New logo acquisition pace and customer retention remain strong, per management.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1352010/000135201023000029/0001352010-23-000029-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1352010/000135201023000029/epam-20230605.htm
  HTML page:      https://secwatch.observer/filing/0001352010-23-000029

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