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

(RTTNews) - EPAM Systems, Inc. (EPAM) reported a profit for second quarter that Decreased from last year but beat the Street estimates.

The company's earnings came in at $88.03 million, or $1.56 per share. This compares with $98.65 million, or $1.70 per share, last year.

Excluding items, EPAM Systems, Inc. reported adjusted earnings of $156.79 million or $2.77 per share for the period.

Analysts on average had expected the company to earn $2.61 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 18.1% to $1.353 billion from $1.146 billion last year.

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

-Earnings: $88.03 Mln. vs. $98.65 Mln. last year. -EPS: $1.56 vs. $1.70 last year. -Revenue: $1.353 Bln vs. $1.146 Bln last year.

-Guidance: Next quarter EPS guidance: $2.98 - $3.06 Next quarter revenue guidance: $1.365 - $1.380 Bln Full year EPS guidance: $10.96 - $11.12