NEWTOWN, Pa. (AP) — NEWTOWN, Pa. (AP) — Epam Systems Inc. (EPAM) on Thursday reported first-quarter profit of $73.5 million.
On a per-share basis, the Newtown, Pennsylvania-based company said it had net income of $1.28. Earnings, adjusted for one-time gains and costs, came to $2.41 per share.
The results topped Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $2.27 per share.
The information technology services provider posted revenue of $1.3 billion in the period, also surpassing Street forecasts. Eight analysts surveyed by Zacks expected $1.28 billion.
For the current quarter ending in June, Epam expects its per-share earnings to range from $2.56 to $2.64.
The company said it expects revenue in the range of $1.33 billion to $1.34 billion for the fiscal second quarter.
Epam expects full-year earnings in the range of $10.70 to $10.95 per share.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on EPAM at https://www.zacks.com/ap/EPAM
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