Globant's Q4 In Line With Expectations
The IT and software services company's earnings marginally beat analysts' forecast while revenue fell a hair short.
Globant (NYSE:GLOB), a leader in IT and software services, released its fourth-quarter earnings on Feb. 20. The Luxembourg-based company's non-IFRS adjusted diluted EPS of $1.75 marginally exceeded analysts' expectations of $1.74. However, revenue of $642.5 million compared to analysts' projections of $644 million was a narrow 0.2% miss.
Source: Analysts' estimates provided by FactSet. IFRS = International Financial Reporting Standards (a set of accounting rules used globally to keep corporate accounting consistent. A rival system to Generally Accepted Accounting Principles, aka GAAP.)
Globant operates in the technology and services sector, specializing in digital and cognitive transformations. It offers a wide range of services, including cloud transformation and AI innovation, to clients across industries such as fintech and healthcare. Recently, Globant has focused on diversifying its service offerings to reduce market-specific risks. Its strategy has included expansions into new markets and the introduction of solutions in areas such as blockchain technology.
