EPAM raises 2025 forecasts on strong IT services spending

Core Insights - EPAM Systems has raised its annual earnings forecast for the third time this year, indicating strong demand for IT consultancy services as businesses invest in modernizing their systems for artificial intelligence [1] Group 1: Financial Performance - The company’s updated earnings forecast reflects an increase in business spending on AI system modernization, which is driving revenue growth [1] Group 2: Market Trends - There is a growing trend among businesses to allocate more resources towards upgrading their technological infrastructure to incorporate artificial intelligence capabilities [1]