In This Article:
Globant (NYSE:GLOB) Full Year 2024 Results
Key Financial Results
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Revenue: US$2.42b (up 15% from FY 2023).
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Net income: US$165.7m (up 4.5% from FY 2023).
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Profit margin: 6.9% (down from 7.6% in FY 2023). The decrease in margin was driven by higher expenses.
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EPS: US$3.82 (up from US$3.72 in FY 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Globant EPS Misses Expectations
Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 7.0%.
In the last 12 months, the only revenue segment was Software & Programming contributing US$2.42b. Notably, cost of sales worth US$1.55b amounted to 64% of total revenue thereby underscoring the impact on earnings. The largest operating expense was General & Administrative costs, amounting to US$604.3m (87% of total expenses). Explore how GLOB's revenue and expenses shape its earnings.
Looking ahead, revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 9.5% growth forecast for the IT industry in the US.
Performance of the American IT industry.
The company's shares are down 32% from a week ago.
Balance Sheet Analysis
Just as investors must consider earnings, it is also important to take into account the strength of a company's balance sheet. See our latest analysis on Globant's balance sheet health.
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