NEWTOWN, Pa. (AP) — NEWTOWN, Pa. (AP) — Epam Systems Inc. (EPAM) on Thursday reported third-quarter profit of $136.3 million.
On a per-share basis, the Newtown, Pennsylvania-based company said it had profit of $2.37. Earnings, adjusted for stock option expense and non-recurring costs, came to $3.12 per share.
The results exceeded Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $2.70 per share.
The information technology services provider posted revenue of $1.17 billion in the period, which also topped Street forecasts. Eight analysts surveyed by Zacks expected $1.15 billion.
For the current quarter ending in December, Epam expects its per-share earnings to range from $2.70 to $2.78.
The company expects full-year earnings in the range of $10.73 to $10.81 per share.
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