Software provider EPAM lifts annual forecasts as IT spending rises
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EPAM Systems has raised its annual revenue and profit forecasts due to increased IT spending, leading to an 11% pre-market rise in its stock price.
November 07, 2024 | 12:30 pm
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POSITIVE IMPACT
EPAM Systems has increased its annual revenue and profit forecasts, driven by a rise in enterprise IT spending. This positive outlook has resulted in an 11% increase in its stock price before market opening.
EPAM's decision to lift its revenue and profit forecasts indicates strong business performance and confidence in future demand. The immediate 11% rise in stock price reflects investor optimism and positive market reaction to the news.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100