EPAM Sets Sight on Generative AI Growth After Q4 Earnings Outperform Analyst Predictions



EPAM Systems, Inc (NYSE:EPAM) reported a fourth-quarter FY23 sales decline of 6.0% year-on-year to $1.16 billion, beating the analyst consensus estimate of $1.14 billion.

Adjusted EPS of $2.75 beat the consensus of $2.50.

On an organic constant currency basis, excluding the impact of the exit from Russia, revenues were down 7.1% Y/Y.

Adjusted income from operations was $200.4 million, down 8.7% Y/Y. The adjusted operating margin contracted 50 bps to 17.3%.

EPAM held $2.04 billion in …

Full story available on Benzinga.com


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