 "IT firms")
Kotak Institutional Equities (KIE) has said that software services company EPAM Systems slashing its calendar year 2023 (CY23) revenue guidance to a decline of 2 per cent signals weak discretionary spending — and Indian information technology (IT) companies will not be immune to this trend.
EPAM, an American IT services company, has trimmed its revenue guidance for the current quarter to $1.16-1.17 billion, from $1.19-1.2 billion guidance provided in the first quarter (Q1) CY23 earnings call. The revenue growth outlook is about 5 per cent lower than earlier estimates.
EPAM, an American IT services company, has trimmed its revenue guidance for the current quarter to $1.16-1.17 billion, from $1.19-1.2 billion guidance provided in the first quarter (Q1) CY23 earnings call. The revenue growth outlook is about 5 per cent lower than earlier estimates.
The development has sent tremors through the IT services sector
