GLOB - Globant Non-GAAP EPS of $1.28 beats by $0.01 revenue of $472.42M beats by $1.35M

2023-05-18 16:23:39 ET

• Globant press release ( NYSE: GLOB ): Q1 Non-GAAP EPS of $1.28 beats by $0.01 .
• Revenue of $472.42M (+17.7% Y/Y) beats by $1.35M .
• Adjusted Gross Profit Margin was 38.2% compared to 39.5% in the first quarter of 2022.
• Adjusted Profit from Operations Margin was 15.1% compared to 16.8% in the first quarter of 2022.
• The geographic revenue breakdown for the first quarter of 2023 was as follows: 61.4% from North America (top country: US), 21.8% from Latin America (top country: Argentina), 13.4% from EMEA (top country: Spain) and 3.4% from Asia and Oceania (top country: India).
• Q2 Outlook: Revenues are estimated to be at least $496.0 million, or 15.5% year-over-year growth.
• Adjusted Profit from Operations Margin is estimated to be in the range of 15-16%.
• Adjusted Diluted EPS is estimated to be at least $1.33 (assuming an average of 43.4 million diluted shares outstanding during the second quarter).
• 2023 Outlook: Revenues are estimated to be at least $2,074.0 million, implying at least 16.5% year-over-year revenue growth. This expected growth includes a neutral FX outlook.
• Adjusted Profit from Operations Margin is estimated to be in the range of 15%-17%.
• Adjusted Diluted EPS is estimated to be at least $5.71 (assuming an average of 43.4 million diluted shares outstanding during 2023).
• Shares -1.09% .

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