"Our business continues to benefit from strong broad-based demand for our high-value solutions and customized digital experiences across the markets we serve," said Arkadiy Dobkin, CEO & President, EPAM. "As companies accelerate digital initiatives by applying new advances in Intelligent Automation, Blockchain, Artificial Intelligence and IoT, we are well-positioned to deliver disruptive solutions that help our customers stay competitive and expand their markets."
Second Quarter 2018 Highlights
Revenues increased to $445.6 million, a year-over-year increase of $96.7 million, or 27.7%, and on a constant currency basis, revenue was up 27.1% over the corresponding period last year;
GAAP income from operations was $54.2 million, an increase of $13.5 million, or 33.3%, compared to $40.7 million in the second quarter of 2017;
Non-GAAP income from operations was $72.3 million, an increase of $16.5 million, or 29.5%, compared to $55.8 million in the second quarter of 2017;
Diluted earnings per share ("EPS") on a GAAP basis was $0.89, an increase of $0.21, or 30.9%, compared to $0.68 in the second quarter of 2017 based on a weighted average share count of 56.6 million fully diluted shares outstanding; and
Non-GAAP diluted EPS was $1.01, an increase of $0.21, or 26.3%, compared to $0.80 in the second quarter of 2017.
EPAM Reports Results for Second Quarter 2018 | EPAM Systems
