UPDATE: Epam Posts Better-Than-Expected Q2 Profit, Issues Upbeat Q3 Forecast

Epam Systems

reported a better-than-expected second-quarter profit and issued upbeat adjusted profit forecast for the current quarter. Epam projects Q3 adjusted profit of $0.34 to $0.36 per share on revenue of $107 million to $109 million. However, analysts were projecting adjusted earnings of $0.33 per share on revenue of $108.7 million. Epam reported its quarterly earnings at $13.3 million, or $0.29 per share. Excluding items, Epam earned $0.37 per share. Its revenue surged 10% to $103.8 million. However, analysts were expecting earnings of $0.31 per share on revenue of $101.8 million. Epam shares closed at $15.70 yesterday.