GLOBANT S.A Reports Second Quarter Earnings Results for FY2023 on August 17
August 24, 2023
🌥️Earnings Overview
On August 17 2023, GLOBANT S.A ($NYSE:GLOB) released their earnings report for the second quarter of FY2023 (ending June 30 2023). They recorded a total revenue of USD 497.5 million, a 15.9% rise compared to the same quarter of the prior year. Net income for the quarter was USD 37.0 million, a slight dip of 0.3% from the preceding year.
Share Price
The stock opened at $167.0 but closed at $163.0, representing a 2.9% decline from the last closing price of 167.8. This is the biggest single day drop since GLOBANT S.A made its debut in the stock market in January 2023. Despite this drop in stock prices, GLOBANT S.A managed to beat analysts expectations and reported strong earnings growth across all its business segments. The company has also announced plans to expand its presence in Latin America and Asia.
Analysts are hopeful that the company will continue to grow and outperform its peers in the coming quarters. Investors will be keeping an eye on how GLOBANT S.A will use the funds generated from its second quarter earnings results to expand its reach and profitability in the global market. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Globant S.a. More…
| Total Revenues | Net Income | Net Margin |
| 1.92k | 148.59 | 9.1% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Globant S.a. More…
| Operations | Investing | Financing |
| 197.52 | -269.3 | -65.68 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Globant S.a. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 2.25k | 568.68 | 38.48 |
Key Ratios Snapshot
Some of the financial key ratios for Globant S.a are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 38.0% | 39.1% | 10.7% |
| FCF Margin | ROE | ROA |
| 5.3% | 8.0% | 5.7% |
Analysis
GoodWhale has conducted an analysis of GLOBANT S.A‘s fundamentals. Using the Star Chart, we have concluded that GLOBANT S.A is strong in asset, growth, and profitability and weak in dividend. In addition, we have classified GLOBANT S.A as a ‘gorilla’, a type of company that has achieved stable and high revenue or earning growth due to its strong competitive advantage. This type of company may be attractive to investors seeking growth opportunities in the tech sector. Furthermore, GLOBANT S.A has a high health score of 10/10 with regard to its cashflows and debt, indicating that it is capable to sustain future operations in times of crisis. Therefore, investors looking for a company with a solid track record of returns and a strong competitive position may find GLOBANT S.A to be an attractive investment opportunity. More…
Peers
The competition between Globant SA and its competitors is fierce. Each company is striving to be the best in the industry, and they are all fighting for market share. Globant SA is a leading provider of software development and outsourcing services. AudioEye Inc is a provider of web accessibility solutions. Gofore PLC is a provider of digital transformation services. Geovis Technology Co Ltd is a provider of Geographic Information Systems (GIS) solutions.
– AudioEye Inc ($NASDAQ:AEYE)
AudiEye Inc is a publicly traded company that provides digital accessibility solutions for businesses and individuals who are blind or visually impaired. The company has a market cap of 60.79M as of 2022 and a Return on Equity of -113.07%. AudiEye’s mission is to provide equal access to information and opportunity for people with disabilities. The company’s products and services include digital accessibility software, consulting, and training.
– Gofore PLC ($LTS:0CXS)
Gofore Plc is a Finnish provider of digitalization services. The company offers its customers consulting, software development, and training services with the aim of helping them digitalize their businesses. Gofore’s shares are listed on the Nasdaq Helsinki stock exchange.
Gofore’s market cap as of 2022 is 338.78M. The company has a Return on Equity of 14.21%. Gofore’s main competitors include Accenture, Deloitte, and IBM.
– Geovis Technology Co Ltd ($SHSE:688568)
Geovis Technology Co Ltd is a Chinese technology company with a market cap of 15.7 billion as of 2022. The company’s return on equity is 7.63%. Geovis Technology Co Ltd is a leading provider of Geographic Information Systems (GIS) software and services. The company’s products are used in a variety of industries, including government, transportation, utilities, and telecommunications.
Summary
GLOBANT S.A has reported strong financial results for the second quarter of FY2023, with total revenue increasing by 15.9% compared to the same period in the previous year. Net income for the quarter was slightly lower than the year before, however remaining positive at USD 37 million. This is an encouraging sign for investors in GLOBANT S.A, suggesting that the company has maintained strong performance and is well-positioned for future growth. Analysts are optimistic that the success of the second quarter will be sustained in the coming quarters, as it indicates that the company’s strategies are working well.
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