IT Services and Consulting Stocks Decline 18% on Average After Mixed Q1 Results

Earnings
โดย Yahoo Finance·Read original
Summary · why it matters

IT services and consulting stocks tracked by the publication fell an average of 18% since their latest earnings reports, even as first-quarter revenues broadly met analyst expectations. IBM led the group with revenue of 15.92 billion dollars, up 9.5 percent year on year and beating estimates by 1.3 percent, but its stock still dropped 15.7 percent. Gartner posted revenue of 1.51 billion dollars, down 1.5 percent, while Everforth reported flat revenue of 968.3 million dollars and issued weak guidance that sent its shares down 53.7 percent. Grid Dynamics grew revenue 3.7 percent to 104.1 million dollars and raised its full-year outlook, and EPAM Systems recorded 1.4 billion dollars in revenue, up 7.6 percent, though its stock fell 17.8 percent. Next-quarter revenue guidance for the group came in 2.3 percent below consensus, contributing to the broad share-price declines.

Impact on stocks 5

Information Technology▼ · 2 stocks
Everforth, Inc.
EFOR
▼ NegativeCapitalrelevance

Everforth reported flat revenue and issued weak guidance, sending its shares down 53.7%.

Gartner Inc
IT
▼ NegativeCapitalrelevance

Gartner posted Q1 revenue down 1.5%, contributing to sector-wide decline.

Artificial Intelligence± Mixed · 2 stocks
EPAM Systems Inc
EPAM
▼ NegativeCapitalrelevance

EPAM Systems reported Q1 revenue up 7.6% but its stock fell 17.8% amid broad sector decline driven by weak guidance.

Quantum Computing▼ · 1 stocks
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