Globant's shares experienced a 23% drop in the Wall Street market today. This decrease was due to a first-quarter report that presented forecasts below expectations, which also affected the outlook for the full year.
According to Juan Urthiague, Globant's chief financial officer, the company achieved record revenues in this quarter, reaching $642.5 million, representing strong sequential growth, along with a record annual revenue of $2,415.7 million. Despite this achievement, the reported results did not meet expectations.
The report revealed that in the fourth quarter, the results had surpassed estimates, with an adjusted earnings per share of $1.75, also above what analysts had calculated. Revenues experienced a year-over-year increase of 10.6%, reaching $642.5 million, slightly below consensus forecasts.
For the first quarter of 2025, Globant projects an adjusted EPS of $1.55-1.63 with revenues between $618 and $628 million, figures that are lower than previous expectations. Regarding forecasts for the entire year of 2025, the company announced an adjusted EPS of $6.80-7.20 and revenues of $2,635-2,705 million, below analysts' projections.
Globant expressed confidence in its ability to maintain momentum and build on the success achieved as it moves into the year 2025.
