LUXEMBOURG – Globant (NYSE: GLOB), the digitally native company specializing in reinventing businesses through innovative technology solutions, today reported its first quarter financial results for the period ending March 31, 2024.
The company announced a revenue of $571.1 million, a 20.9% increase from the previous year and slightly above the analyst consensus of $570.73 million. Adjusted EPS for the quarter was $1.53, aligning with analyst predictions.
Despite reporting strong first-quarter results, Globant’s stock fell by 6% as the company’s guidance for the second quarter and full year fell short of analyst expectations.
For Q2 2024, the company forecasts an adjusted EPS range of $1.47 to $1.52, below the consensus of $1.57. Revenue estimates of $585-589 million also did not meet the expected $590.5 million. This guidance suggests a more cautious outlook than anticipated by the…
