Globant: 2Q Earnings Snapshot

LUXEMBOURG (AP) _ Globant SA (GLOB) on Thursday reported second-quarter profit of $13.4 million.

The Luxembourg-based company said it had profit of 36 cents per share. Earnings, adjusted for stock option expense and costs related to mergers and acquisitions, were 53 cents per share.

The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 52 cents per share.

The information technology services provider posted revenue of $157.5 million in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $157.4 million.

For the current quarter ending in October, Globant expects its per-share earnings to range from 57 cents to 61 cents.

The company said it expects revenue in the range of $170 million to $172 million for the fiscal third quarter.

Globant expects full-year earnings in the range of $2.19 to $2.25 per share, with revenue ranging from $654 million to $660 million.

Globant shares have risen 80% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $101.11, a rise of 76% in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GLOB at https://www.zacks.com/ap/GLOB