Globant (NYSE: GLOB) reported Q3 EPS of $0.46, $0.02 better than the analyst estimate of $0.44. Revenue for the quarter came in at $134.6 million versus the consensus estimate of $132.6 million.

• Revenues increased to a record $134.6 million, representing 22.7% year-over-year growth.
• Non-IFRS Adjusted Gross Profit was $55.5 million (41.2% Non-IFRS Adjusted Gross Profit Margin), an increase of $12.7 million compared to $42.8 million (39.0% Non-IFRS Adjusted Gross Profit Margin) for the third quarter of 2017.
• Non-IFRS Adjusted Net Income was $16.8 million (12.5% Non-IFRS Adjusted Net Income Margin), an increase of $3.2 million compared to $13.6 million (12.4% Non-IFRS Adjusted Net Income Margin) for the third quarter of 2017.
• Non-IFRS Adjusted Diluted EPS was $0.46 per share (based on an average of 36.8 million diluted shares), an increase of $0.09 compared to $0.37 per share (based on an average of 36.3 million diluted shares) for the third quarter of 2017.

"Third quarter 2018 was another robust quarter for Globant. Our revenues reached a new quarterly record of $134.6 million, with an implied 22.7% year-over-year growth. This solid growth was mainly driven by top 10 accounts, which delivered revenues growth of 37.8% over third quarter of 2017 and 7.9% sequentially," said Martín Migoya, Globant\'s CEO and co-founder.

"To succeed in this era, organizations need to completely transform. This transformation should start with their culture and business strategies up to their processes and go-to-market approach. As a pure-play in the digital and cognitive arena, we are consistently showing that we are the right partner to help our customers drive their transformations," explained Martin Migoya. "During this quarter we have been involved in several strategic initiatives with key customers from the US, Europe and Latin America. We consistently see a profound need to reshape their organizations and we expect this trend to expand in the months to come".

"I am very pleased with our third quarter financial performance. During this quarter we delivered strong revenues growth, improved our gross and operating margins and generated significant cash. Additionally, to cope with the current demand environment, we increased our total headcount by 528 Globers," explained Juan Urthiague, Globant's CFO.

GUIDANCE:

Globant sees FY2018 EPS of $1.69-$1.73, versus the consensus of $1.68. Globant sees FY2018 revenue of $520-522 million, versus the consensus of $515.13 million.

For earnings history and earnings-related data on Globant (GLOB) click here.