Company beats revenue and earnings estimates, driving stock price up

  • EPAM Systems shares rise 9% after beating revenue and earnings estimates
  • Fourth-quarter revenue was $1.16 billion, compared to $1.23 billion last year
  • Adjusted earnings were $2.75 a share, exceeding analysts’ expectations
  • Earnings for the quarter were $97.6 million, compared to $155 million last year
  • EPAM forecasts fiscal 2024 earnings of $7.20 to $7.60 a share

EPAM Systems shares experienced a significant surge of 9% following the release of their fourth-quarter financial results. The company reported revenue of $1.16 billion for the quarter, surpassing last year’s figure of $1.23 billion. Additionally, adjusted earnings were $2.75 per share, exceeding analysts’ expectations of $2.51 per share. However, earnings for the quarter were $97.6 million, down from $155 million in the previous year. Looking ahead, EPAM Systems forecasts earnings of $7.20 to $7.60 per share for fiscal 2024, while analysts predict earnings of $8.18 per share.

Companies Public: EPAM Systems (EPAM)
Factuality Level: 8
Factuality Just: The article provides specific information about EPAM Systems’ fourth-quarter revenue and adjusted earnings, comparing them to analysts’ estimates. The information is based on factual data and does not contain any irrelevant or misleading information. The article also includes the company’s forecast for fiscal 2024 earnings, which is presented as analysts’ estimates. Overall, the article provides accurate and objective information without any bias or personal perspective.
Noise Level: 8
Noise Just: The article provides financial information about EPAM Systems’ fourth-quarter revenue and adjusted earnings, which beat analysts’ estimates. It includes specific numbers and comparisons with the previous year. However, it lacks analysis, context, and insights beyond the numbers. It does not explore the consequences of the company’s performance on stakeholders or provide any actionable insights.
Financial Relevance: No
Financial Markets Impacted: No
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Just: The article pertains to financial topics as it discusses the financial performance of EPAM Systems, a technology company. There is no mention of an extreme event in the article.

Reported publicly: www.marketwatch.com