Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Globant Shares Slide After Q2 Results, Clocks ~41% Revenue Growth

Published 18/08/2022, 22:14
Updated 18/08/2022, 23:10
© Reuters.  Globant Shares Slide After Q2 Results, Clocks ~41% Revenue Growth

© Reuters. Globant Shares Slide After Q2 Results, Clocks ~41% Revenue Growth

  • Globant SA (NYSE: GLOB) reported second-quarter revenue growth of 40.6% year-over-year to $429.3 million, beating the consensus of $425.55 million.
  • Adjusted EPS was $1.22, beating the consensus of $1.19.
  • The adjusted gross profit margin was 39.1% compared to 39.3% in 2Q21, and the adjusted profit from operations margin was 16.1% compared to 16.2%.
  • Cash flows from operating activities for the quarter totaled $44.98 million, compared to $28.12 million in 2Q21.
  • GLOB's cash and cash equivalents and Short-term investments were $361.7 million as of June 30, 2022.
  • Globant's top customers, top five customers, and top ten customers for the second quarter of 2022 represented 10.5%, 25.7%, and 36.7% of revenues.
  • "Business leaders are seeking new and improved ways to reach broader audiences and gain efficiencies. To address this demand, we have recently launched our new Retail and Automotive Studios, which will expand the scope of our offerings, and our new Fast Code Studio, addressing a profound transformation in software development," stated Martín Migoya, Globant's CEO and co-founder.
  • 3Q22 Outlook: Globant expects revenue of ~$456 million vs. a consensus of $455.89 million. Adjusted Profit from Operations Margin of 16%-17%.
  • It sees Adjusted EPS of at least $1.24 vs. a consensus of $1.24.
  • FY22 Outlook: The company sees Revenues of at least $1.775 billion vs. a consensus of $1.77 billion. Adjusted Profit from Operations Margin of 16%-17%.
  • It sees Adjusted EPS of at least $5.03 vs. a consensus of $4.99.
  • Price Action: GLOB shares are trading lower by 4.29% at $220 during the post-market session on Thursday.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read at Benzinga

Read the original article on Benzinga

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.