LUXEMBOURG – Globant (NYSE:GLOB) shares gained 5.4% after the digital expertise providers supplier reported second quarter outcomes that exceeded analyst expectations and offered a strong 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, pushed by a broad-based efficiency,” mentioned Juan Urthiague, Globant’s CFO. “Our capability to take care of excessive profitability, regardless of the difficult financial surroundings, is a mirrored image of our operational effectivity.”
For the third quarter, Globant expects income between $611 million and $617 million, representing 12.1% to 13.2% YoY development. The corporate sees Q3 adjusted EPS of $1.60-$1.64.
For the complete yr 2024, Globant forecasts income of $2.407 billion to $2.421 billion, implying 14.8% to fifteen.5% annual development. It initiatives adjusted EPS of $6.30-$6.50 for the yr.
The corporate highlighted robust development in AI-related revenues, which elevated practically 130% within the first half of 2024. Globant served 958 clients within the final 12 months, with 329 producing over $1 million in annual income.
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