Technology consulting company EPAM Systems announced Thursday it has boosted its yearly earnings outlook following better-than-expected quarterly results, driven by robust client demand for software development services as businesses maintain their investment in artificial intelligence upgrades.
The firm now projects its full-year adjusted earnings will fall between $12.98 and $13.28 per share, an increase from its previous estimate of $12.60 to $12.90 per share.
For the upcoming second quarter, EPAM anticipates adjusted earnings ranging from $3.10 to $3.18 per share, with the middle point exceeding analyst predictions of $3.10.
“We are on a multi-year transformation journey, continuing to position ourselves to fully benefit and capitalize on AI growth opportunities as well as accelerate our own AI client zero transformation,” stated CEO and President Balazs Fejes.
Despite the positive earnings outlook, the company projects second-quarter revenue between $1.40 billion and $1.42 billion, falling slightly short of analyst expectations of $1.43 billion.
EPAM offers various technology services including business consulting, cloud computing solutions, artificial intelligence transformation, and software development.
The company’s first-quarter revenue reached $1.40 billion, meeting analyst forecasts exactly.
For the quarter ending March 31, EPAM reported adjusted earnings of $2.86 per share, exceeding the average analyst estimate of $2.75 according to LSEG data.
Corporate investment in software development and AI-powered transformation initiatives has remained strong despite widespread economic uncertainty.
Looking ahead to 2026, EPAM projects annual revenue growth between 4% and 6.5%.
