Software provider EPAM lifts annual forecasts as IT spending rises

Quick Summary:

EPAM Systems lifted its annual revenue and profit forecasts on Thursday, betting on strong demand for its IT services towards the end of the year as enterprise spending picks up, sending shares of the software provider 11 per cent higher before the bell.

It sees adjusted profit between $10.73 and $10.81 per share, above with its earlier estimate of $10.20 to $10.40.

More companies are spending on digital transformation and cloud modernization to save costs and improve efficiency.

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Article Details

Category: EconomyBusiness

Markets: SingaporeIreland

Topics: Business Adjusted Services Estimates 2024 Profit Annual Revenue Spending Epam Billion

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-07 @ 20:09:06 (3 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 279 words

Reading Time: 2 minutes read

Sentences: 12 lines

Sentence Length: 24 words per sentence (average)

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Copyright Owner: © Channel News Asia

News ID: 23460958

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