Why EPAM Systems Shares Are Slumping Today
Portfolio Pulse from Nabaparna Bhattacharya
EPAM Systems shares are plummeting after the company slashed its Q2 and full-year 2023 financial outlook due to sluggish near-term demand. The company now expects Q2 revenues of $1.16-$1.17 billion and non-GAAP EPS of $2.33-$2.40, both lower than prior guidance and Street view.
June 05, 2023 | 12:04 pm
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NEGATIVE IMPACT
EPAM Systems shares are falling after the company lowered its Q2 and full-year 2023 financial outlook due to sluggish near-term demand, with both revenue and EPS estimates below prior guidance and Street view.
EPAM Systems has lowered its Q2 and full-year 2023 financial outlook due to sluggish near-term demand, which is causing the stock price to plummet. The company's revised revenue and EPS estimates are both below prior guidance and Street view, indicating a negative short-term impact on the stock.
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