Globant gains on upbeat Q1 results, FY forecast raise

GLOBANT

19/05/2023 13:38

** U.S.-listed shares of software consultancy firm Globant
SA  GLOB.N  up 2.2% at $155.00 premarket
    ** Company's Q1 revenue and adj. profit beat analysts' est.
- Refinitiv
    ** GLOB says it is "maintaining a cautiously optimistic
growth outlook for 2023"; raises 2023 revenue and adj. profit
forecasts
    ** Company expects Q2 adj. EPS to be at least $1.33, below
analysts' est. of $1.35
    ** "While we are optimistic about sequential growth from now
to year-end, given some cost restructuring digestion by our
customers, we remain cautious" - GLOB
    ** Up to last close, U.S.-listed stock down 9.81% YTD

 (Reporting by Ashwini Raj in Bengaluru)
 ((Ashwini.Raj@thomsonreuters.com))