LUXEMBOURG – Globant (NYSE:GLOB) shares gained 5.4% after the digital expertise companies supplier reported second quarter outcomes that exceeded analyst expectations and offered a stable outlook.
The corporate posted adjusted earnings per share of $1.51, beating the consensus estimate of $1.49. Income rose 18.1% year-over-year to $587.5 million, barely above the $586.68 million analysts have been anticipating.
“We achieved revenues of $587.5 million, up 18.1% year-over-year, driven by a broad-based performance,” mentioned Juan Urthiague, Globant’s CFO. “Our ability to maintain high profitability, despite the challenging economic environment, is a reflection of our operational efficiency.”
For the third quarter, Globant expects income between $611 million and $617 million, representing 12.1% to 13.2% YoY progress. The corporate sees Q3 adjusted EPS of $1.60-$1.64.
For the total yr 2024, Globant forecasts income of $2.407 billion to $2.421 billion, implying 14.8% to fifteen.5% annual progress. It tasks adjusted EPS of $6.30-$6.50 for the yr.
The corporate highlighted sturdy progress in AI-related revenues, which elevated practically 130% within the first half of 2024. Globant served 958 prospects within the final 12 months, with 329 producing over $1 million in annual income.
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