EPAM Systems has cut its annual revenue forecast, citing a slowing demand for its software services. The company provides a wide range of IT services, including consulting, cloud and AI transformation, and software engineering.
Financial Performance
EPAM saw mixed demand across its businesses, with weakness in the vertical serving software and technology clients partly offset by continued strength in financial services. Revenue from financial services clients rose 11.5% year over year, while software and hi-tech revenue fell 1.3% and business information and media revenue declined 2.1%.
The company now expects revenue growth of 3.2% to 4.2% for 2026, compared with its prior forecast of 4.0% to 6.5%. EPAM forecast annual adjusted profit in the range of $13.08 to $13.24 per share, compared with its prior view of $12.98 to $13.28.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
