EPAM Q2 revenues down 2.1% to $1.17B; narrows FY revenue guidance to $4.65-4.70B

EPAM Systems, Inc.

2023-Q2 EPS reported $3.75 revenue$2,381,147,000

GAAP diluted EPS $2.03 vs $0.32 YoY; Non-GAAP diluted EPS $2.64 vs $2.38, up 10.9%.
Revenue $1.170B, down 2.1% YoY; organic constant currency decline 1.7% excluding Russia exit.
Full year revenue guidance narrowed to $4.650-$4.700B (midpoint -3% YoY); GAAP EPS $7.00-$7.20; Non-GAAP EPS $9.90-$10.10.
Q3 revenue guidance $1.140-$1.150B (down ~7% YoY); GAAP EPS $1.62-$1.70; Non-GAAP EPS $2.52-$2.60.
Headcount ~55,600; delivery professionals down 3.4% sequentially, reflecting demand softness.

item 2.02 item 9.01

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

EPAM Systems, Inc. reported the second quarter ended June 30, 2023 results: revenue $1.170 billion, EPS $2.03. Guidance reaffirmed.

Period: the second quarter ended June 30, 2023
Revenue: $1.170 billion
EPS: $2.03
Guidance: reaffirmed
Result: reported results

Exact text from the filing

EPAM Reports Results for Second Quarter 2023 and Updates Full Year Outlook • Second quarter revenues of $1.170 billion, down 2.1% year-over-year

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Source: SEC EDGAR

accession 0001352010-23-000038

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