Globant Q1 2024 Adj EPS $1.02 Misses $1.53 Estimate, Sales $571.08M Beat $570.79M Estimate
Portfolio Pulse from Benzinga Newsdesk
Globant (NYSE:GLOB) reported Q1 2024 earnings per share of $1.02, missing the analyst consensus estimate of $1.53 by 33.33%. However, the company reported sales of $571.08 million, slightly beating the estimate of $570.79 million and marking a 20.88% increase from the same period last year.
May 16, 2024 | 8:38 pm
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NEGATIVE IMPACT
Globant's Q1 2024 earnings per share missed estimates significantly, which could negatively impact investor sentiment. However, the company reported a slight beat in sales and a substantial year-over-year increase, which may provide some positive offset.
The significant miss on EPS is likely to weigh heavily on investor sentiment, potentially leading to a short-term decline in the stock price. The slight beat in sales and strong year-over-year growth may mitigate some of the negative impact, but the overall effect is expected to be negative.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100