EPAM Systems, Inc. has recently released its 10-Q report, providing an insight into the company's financial performance and operations. EPAM Systems, Inc. is a global provider of digital platform engineering and software development services. The company offers a wide range of services, including engineering, infrastructure management, operation solutions, advisory consulting, and digital and service design solutions, catering to various industries such as financial services, travel and consumer, software and hi-tech, business information and media, and life sciences and healthcare. EPAM Systems, Inc. was founded in 1993 and is headquartered in Newtown, Pennsylvania.
In its 10-Q report, EPAM Systems, Inc. discussed "Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Part II. Item 1A. Risk Factors.” The report emphasizes that the estimates and forward-looking statements are based on the company's current expectations and estimates of future events and trends that may affect its business and operations. EPAM Systems, Inc. highlighted potential factors such as developments relating to the war in Ukraine and escalation of the war in the surrounding region, political and civil unrest or military action in the geographies where it conducts business and operates, difficult conditions in global capital markets, foreign exchange markets, and the broader economy. The company also emphasized the potential effects of these events on client demand, revenues, operations, access to capital, and profitability. EPAM Systems, Inc. cautioned that while it believes the estimates and forward-looking statements are based upon reasonable assumptions, they are subject to risks, uncertainties, and assumptions as to future events that may not prove to be accurate. The company advised readers to consider these factors while interpreting the estimates and forward-looking statements. As a result of these announcements, the company's shares have moved -8.2% on the market, and are now trading at a price of $191.16. Check out the company's full 10-Q submission here.
