Globant's Q3 Earnings Meet, Revenues Up Y/Y on Expanded Footprint

Zacks11-15 21:46

Globant GLOB reported third-quarter 2024 non-GAAP earnings per share (EPS) of $1.63, matching the Zacks Consensus Estimate. It reported earnings of $1.48 per share in the prior-year quarter.Stay up-to...

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It reported earnings of $1.48 per share in the prior-year quarter.Stay up-to...</p>\n\n<a href=\"https://finance.yahoo.com/news/globants-q3-earnings-meet-revenues-134600798.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Globant's Q3 Earnings Meet, Revenues Up Y/Y on Expanded Footprint</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGlobant's Q3 Earnings Meet, Revenues Up Y/Y on Expanded Footprint\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-15 21:46 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/globants-q3-earnings-meet-revenues-134600798.html><strong>Zacks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Globant GLOB reported third-quarter 2024 non-GAAP earnings per share (EPS) of $1.63, matching the Zacks Consensus Estimate. It reported earnings of $1.48 per share in the prior-year quarter.Stay up-to...</p>\n\n<a href=\"https://finance.yahoo.com/news/globants-q3-earnings-meet-revenues-134600798.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BCE","symbol_name":"加拿大贝尔","start_time":0,"source_url":"https://finance.yahoo.com/news/globants-q3-earnings-meet-revenues-134600798.html","article_id":"2483305967","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/0owCiERrMjyPVyzCUtdofg--~B/aD00NTE7dz02MjA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/cf26e4c3a0c976d957455fdecb5b6805"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2483305967","pubTimestamp":1731678360,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Globant GLOB reported third-quarter 2024 non-GAAP earnings per share  of $1.63, matching the Zacks Consensus Estimate. It reported earnings of $1.48 per share in the prior-year quarter.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.Revenues in the quarter totaled $614.7 million, almost in line with the Zacks Consensus Estimate. Total revenues rose 12.7% year over year. Globant’s emphasis on artificial intelligence  has been a key growth driver. AI-related initiatives have grown 120% year to date, demonstrating its ability to provide unique, customized experiences to clients and drive positive outcomes. Continued demand for GLOB’s services across major markets and industries is a tailwind.For the year ended Sept. 30, 2024, GLOB served 969 customers. Of these, 21 generated more than $20 million in annual revenues. For the same period, GLOB had 331 clients that brought in more than $1 million in annual revenues, up 8.5% from the year-ago level.Its top customer, t","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"BCE":"加拿大贝尔","GLOB":"Globant"},"translate_title":"Globant第三季度财报会议，业务规模扩大，收入同比增长","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BCE":0.9,"GLOB":0.9},"content_text":"Globant GLOB reported third-quarter 2024 non-GAAP earnings per share (EPS) of $1.63, matching the Zacks Consensus Estimate. It reported earnings of $1.48 per share in the prior-year quarter.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.Revenues in the quarter totaled $614.7 million, almost in line with the Zacks Consensus Estimate. Total revenues rose 12.7% year over year. Globant’s emphasis on artificial intelligence (AI) has been a key growth driver. AI-related initiatives have grown 120% year to date, demonstrating its ability to provide unique, customized experiences to clients and drive positive outcomes. Continued demand for GLOB’s services across major markets and industries is a tailwind.For the year ended Sept. 30, 2024, GLOB served 969 customers. Of these, 21 generated more than $20 million in annual revenues. For the same period, GLOB had 331 clients that brought in more than $1 million in annual revenues, up 8.5% from the year-ago level.Its top customer, top five customers and top 10 customers accounted for 9.1%, 21% and 30.1% of revenues, respectively. It exited the third quarter with 29,998 customers, an increase of 9.1% year over year.\nSegmental Details\nRevenues from Media and Entertainment (23% of net sales) were up 20.1% year over year to $141.5 million. The expansion was due to higher revenues from its biggest client, the Walt Disney Company, with 17.5% year-over-year growth.Technology & Telecommunications revenues (10.7%) fell 1% year over year to $65.5 million.Travel & Hospitality revenues (11.6%) soared 48.7% year over year to $71.2 million.Consumer, Retail & Manufacturing (18.2%) grew 26.3% year over year to $112 million.\n\nGlobant S.A. Price, Consensus and EPS Surprise\n\nGlobant S.A. price-consensus-eps-surprise-chart | Globant S.A. Quote\n\nProfessional Services (10.6%) were down 4.6% from the prior-year quarter to $64.9 million.Banks, Financial Services and Insurance (17.6%) were up 7% year over year to $108.5 million.Healthcare revenues (6.7%) declined 7.5% year over year to $41.2 million.Revenues from Other Verticals tallied $9.95 million (1.6%), down 7.6% year over year.\nRegion-wise Performance\nRegarding region-wise revenue distribution, North America led with 55.7% of revenues, driven by the United States. Latin America, led by Argentina, contributed 21.8%. Europe accounted for 17.6%, with Spain as the top market. New Markets, including Saudi Arabia, represented 4.9%. The highest growth was driven by new markets in the Middle East and APAC, achieving an impressive 35.3% sequential increase and a 53.1% rise year over year. Management expects to witness strong growth potential in this region. Revenue rose 24.8% in Europe, 13.9% in Latin America and 6.6% in North America year over year.\nOther Details\nNon-IFRS adjusted gross margin was 38.5% compared with 38.2% a year ago.Non-IFRS adjusted profit from operations margin was 15.6%, up from 15.3% in the prior-year quarter.Adjusted net income for the period was $72.4 million, up 11.7% year over year.\nBalance Sheet\nAs of Sept. 30, 2024, Globant’s cash, cash equivalents and short-term investments were $213.5 million, up from $180.4 million as of June 30, 2024.During the quarter, it generated $90.5 million in cash from operating activities compared with $87.4 million in the previous year.\nOutlook\nDriven by its growth trajectory and strong pipeline, GLOB anticipates fourth-quarter revenues between $642 million and $648 million, representing 10.6-11.6% year-over-year growth. The company forecasts a non-IFRS adjusted profit from operations margin in the range of 15.0-16.0% and non-IFRS adjusted diluted EPS between $1.71 and $1.75.For full-year 2024, Globant estimates revenue growth between 15.2% and 15.5%, reaching $2,415 million to $2,421 million. The non-IFRS adjusted profit from operations margin is expected to remain strong, between 15.0% and 15.5%, with a non-IFRS adjusted diluted EPS between $6.37 and $6.43.\nGLOB’s Zacks Rank\nGLOB currently carries a Zacks Rank #3 (Hold). You can see  the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.\nPerformance of Other Companies\nIntrusion Inc. INTZ incurred a third-quarter 2024 loss of 35 cents per share compared with a loss of $2.78 a year ago. The bottom line was narrower than the Zacks Consensus Estimate of a loss of 42 cents.Shares of INTZ lost 93% in the past year.BCE Inc. BCE reported third-quarter 2024 adjusted EPS of C$0.75 (55 cents) compared with C$0.81 in the prior-year quarter. The Zacks Consensus Estimate was pegged at 57 cents.Shares of BCE lost 26.4% in the past year.Itron Inc ITRI reported non-GAAP EPS of $1.84 for third-quarter 2024, which beat the Zacks Consensus Estimate by 62.8%. The company reported earnings of 98 cents in the prior-year quarter.Shares of ITRI surged 94.8% in the past year.  \nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nItron, Inc. (ITRI) : Free Stock Analysis Report\nBCE, Inc. (BCE) : Free Stock Analysis Report\nGlobant S.A. (GLOB) : Free Stock Analysis Report\nIntrusion Inc. (INTZ) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2483305967"}