EPAM Systems raises annual profit forecast on AI demand
EPAM Systems raised its annual profit forecast after beating quarterly estimates. It sees adjusted full-year profit of $12.98 to $13.28 per share on AI demand.
EPAM SYSTEMS INC raised its annual profit forecast on Thursday after quarterly earnings beat estimates due to sustained corporate spending on artificial intelligence. The IT consultancy now expects full-year adjusted profit between $12.98 and $13.28 per share, up from its previous $12.60 to $12.90 range. This guidance shift signals that enterprise demand for software engineering remains resilient despite broader macroeconomic uncertainty.
### AI Transformation Drives Margin Expansion Adjusted EPS reached $2.86 for the quarter ended March 31, exceeding the $2.75 average estimate from LSEG data. While first-quarter revenue of $1.40 billion met analyst expectations, the improved profit outlook suggests EPAM is successfully managing costs. However, EPAM expects second-quarter revenue of $1.40 billion to $1.42 billion, slightly below the $1.43 billion estimate, tempering the otherwise positive earnings narrative.
