UTRN - EPAM Systems Faces Rough Waters Ahead; Stock Tanks | Benzinga
EPAM Systems, Inc. (NYSE:EPAM) shares are diving after the company reported first-quarter FY24 results.
Sales declined 3.8% Y/Y to $1.165 billion, marginally beating the analyst consensus estimate of $1.161 billion.
On an organic constant currency basis, excluding the impact of the exit from Russia, revenues were down 4.8% Y/Y.
Adjusted income from operations was $173.6 million, down 2.6% Y/Y. The adjusted operating margin expanded 20 bps to 14.9%.