EPAM Systems, Inc. Q2 Profit Decreases, But Beats Estimates

(RTTNews) - EPAM Systems, Inc. (EPAM) announced a profit for second quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings came in at $98.65 million, or $1.70 per share. This compares with $120.03 million, or $2.03 per share, in last year's second quarter.

Excluding items, EPAM Systems, Inc. reported adjusted earnings of $142.27 million or $2.45 per share for the period.

Analysts on average had expected the company to earn $2.26 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 2.1% to $1.146 billion from $1.170 billion last year.

EPAM Systems, Inc. earnings at a glance (GAAP) :

-Earnings (Q2): $98.65 Mln. vs. $120.03 Mln. last year. -EPS (Q2): $1.70 vs. $2.03 last year. -Revenue (Q2): $1.146 Bln vs. $1.170 Bln last year.

-Guidance: Next quarter EPS guidance: $2.65 - $2.73 Next quarter revenue guidance: $1.145 - $1.155 Bln Full year EPS guidance: $10.20 - $10.40 Full year revenue guidance: $4.590 - $4.625 Bln