Grid Dynamics Holdings, Inc. (GDYN) Tops Q2 EPS by 7c on Revenues of $22.4M; Offers 3Q Revenue Outlook

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Go back to Grid Dynamics Holdings, Inc. (GDYN) Tops Q2 EPS by 7c on Revenues of $22.4M; Offers 3Q Revenue Outlook

Grid Dynamics Reports Second Quarter 2020 Financial Results; Guides Third Quarter Sequential Revenue Growth between 10% and 16%

August 6, 2020 4:05 PM EDT

SAN RAMON, Calif.--(BUSINESS WIRE)-- Grid Dynamics Holdings, Inc. (Nasdaq: GDYN) (Grid Dynamics), a leader in enterprise-level digital transformation, today announced results for the second quarter ended June 30, 2020.

We are pleased with our second quarter results and strong execution against our objectives in light of the challenging backdrop. We delivered $22.4 million of revenue in the second quarter, at the high-end of our guidance range, with our non-retail industry verticals generating strong sequential and year-over-year revenue growth of 12% and 46%, respectively. Our Technology vertical, at 54% of second quarter revenue, grew 52% on a year-over-year basis, and... More