mohd izzuan
Globant (NYSE:GLOB) stock fell ~4% on Friday despite Q3 results beating estimates and the company marginally raising its FY22 outlook.
Adjusted EPS rose +29.59% Y/Y to $1.27.
Q3 revenues grew +34.2% Y/Y to to $458.9M.
“Since the end of the second quarter, our revenues for the third quarter grew 6.9% – supporting our fourth quarter outlook,” said Globant’s CFO Juan Urthiague.
Non-IFRS Adjusted Gross Profit Margin was 39.1%, compared to 39.8% in Q3 2021.
Cash and cash equivalents and short-term investments were $369.2M, compared to $460.4M as of Dec. 31, 2021.
Breakdown of Q3 revenue in geographic regions: 64.9% from North America (top country: U.S.), 21.9% from Latin America (top country: Argentina), 10% from EMEA (top country: Spain) and 3.2% from Asia and Oceania (top country: India).
Outlook:
Full year 2022 revenue is expected to be at least $1.778B (+37.1% Y/Y), prior outlook during Q2 results was at least $1.775B; consensus $1.78B.
The company said expected growth includes a negative FX impact of 2.0 percentage points.
Full Year 2022 non-IFRS Adjusted EPS is estimated to be at least $5.06, prior outlook $5.03; consensus $5.05.
