EPAM Beat On Q2 Earnings, Guides For Better Than Expected FY21 Outlook

EPAM Systems Inc EPAM reported second-quarter FY21 revenue growth of 39.4% year-on-year to $881.4 million beating the analyst consensus of 860.4 million. Acquisitions generated 3.1% revenue growth.
Revenue from Financial Services grew 51% Y/Y to $194 million, Travel and Consumer grew 60% Y/Y to $171 million, Software and Hi-tech increased 33% Y/Y to $159 million, Business information and media expanded 13% Y/Y to $158 million, Lifesciences and healthcare grew 33% Y/Y to $92 million and Emerging increased 56% Y/Y to $107 million.
Non-GAAP EPS of $2.05 beat the analyst consensus of $1.93.
EPAM generated $81.7 million in operating cash flow and held $1.3 billion in cash and equivalents.
EPAM continues to expand capabilities and global talent footprint deepening customer relationships and diversifying solutions portfolio, CEO Arkadiy Dobkin stated.
Outlook: EPAM sees Q3 revenue of $957 million - $965 million above the analyst consensus of $884.6 million.
It sees non-GAAP EPS of $2.15 - $2.22 above the analyst consensus of $1.95.
Price action: EPAM shares traded higher by 3.76% at $590.50 on the last check Thursday.

Earnings Calendar