preloader icon



Apex Trader Funding - News

EPAM Systems Faces Rough Waters Ahead; Stock Tanks

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%. Adjusted EPS of $2.46, down 0.4% Y/Y, beat the