Globant: 3Q Earnings Snapshot

Associated Press
Updated

LUXEMBOURG (AP) _ Globant SA (GLOB) on Thursday reported third-quarter profit of $15.1 million.

The Luxembourg-based company said it had profit of 40 cents per share. Earnings, adjusted for stock option expense and costs related to mergers and acquisitions, came to 62 cents per share.

The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 59 cents per share.

The information technology services provider posted revenue of $171.3 million in the period, which did not meet Street forecasts. Four analysts surveyed by Zacks expected $171.4 million.

For the current quarter ending in December, Globant expects its per-share earnings to range from 58 cents to 62 cents.

The company said it expects revenue in the range of $182 million to $184 million for the fiscal fourth quarter.

Globant expects full-year earnings in the range of $2.23 to $2.27 per share, with revenue ranging from $657 million to $659 million.

Globant shares have risen 94% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $109.26, more than doubling in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GLOB at https://www.zacks.com/ap/GLOB