Globant reports Q3 adjusted EPS $1.63, consensus $1.63

Reports Q3 revenue $614.7M, consensus $614.34M. “As we reflect on another remarkable quarter, I am thrilled to share that Globant (GLOB) continues on a trajectory of strong growth, solidifying our role as an industry leader. The level of demand we are witnessing across verticals and markets fuels our optimism for continued expansion in 2024. Our strategic investments in AI have lead to year-to-date AI-related initiatives increasing by 120% compared to the same period last year, enhancing our capabilities and driving productivity gains that translate into unique client experiences. With a strong pipeline and a commitment to redefining industries through our Studios, we are well-positioned to lead in this new era of digital innovation,” said CEO Martin Migoya. “As we conclude this quarter, I am pleased to report that Globant has achieved another quarter of record revenues, at $614.7M, reflecting strong sequential growth driven by our top client and several key accounts. This performance aligns with our guidance and showcases our ability to enhance profitability while maintaining a prudent balance sheet. Our healthy margins are a reflection to our focus on profitability, while we see early recovery signs in specific verticals that previously faced headwinds. We are confident in our ability to sustain this momentum and build on our strong performance as we approach 2025,” explained Juan Urthiague, CFO.