EPAM Systems Stock Leads S&P 500 Gains Thursday on Strong Earnings, Outlook

Core Insights - EPAM Systems shares surged nearly 15% on Thursday, marking the top daily performance in the S&P 500 after the company reported third-quarter earnings that exceeded estimates and raised its full-year outlook [1][3] - Despite the recent gains, EPAM shares have lost more than 20% of their value since the beginning of the year [3] Financial Performance - EPAM reported third-quarter revenue of $1.17 billion, reflecting a year-over-year increase of 1.3% [2] - The earnings per share (EPS) for the quarter was $2.37, which is a 72-cent increase compared to the same period last year, surpassing analysts' expectations [2] - The company has revised its annual revenue forecast to a range of $4.69 billion to $4.7 billion, up from the previous estimate of $4.59 billion to $4.63 billion [2] Strategic Developments - The updated revenue forecast also accounts for the impact of recent acquisitions, including the purchase of NEORIS, a technology consulting firm based in Florida, which was completed on November 1 [3]