Epam: Q1 Earnings Snapshot

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NEWTOWN, Pa. (AP) — NEWTOWN, Pa. (AP) — Epam Systems Inc. (EPAM) on Friday reported first-quarter profit of $102.3 million.

The Newtown, Pennsylvania-based company said it had profit of $1.73 per share. Earnings, adjusted for stock option expense and non-recurring costs, came to $2.47 per share.

The results topped Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $2.34 per share.

The information technology services provider posted revenue of $1.21 billion in the period, which met Street forecasts.

For the current quarter ending in June, Epam expects its per-share earnings to range from $2.38 to $2.46.

The company said it expects revenue in the range of $1.2 billion to $1.21 billion for the fiscal second quarter.

Epam expects full-year earnings in the range of $10.60 to $10.80 per share, with revenue ranging from $4.95 billion to $5 billion.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on EPAM at https://www.zacks.com/ap/EPAM