Globant reported strong financial results for the third quarter ended September 30, 2024, with revenues reaching $614.7 million, marking a 13% increase from Q3 2023. The company's net income for the period was $43.6 million, translating to basic earnings per share of $1.00 and diluted earnings per share of $0.98.
Non-IFRS adjusted diluted EPS for the quarter was $1.63, reflecting adjustments for one-time gains and costs. Globant's CEO, Martín Migoya, highlighted that strategic investments in AI led to a 120% year-to-date increase in AI-related initiatives compared to the same period last year, driving productivity gains and client experiences.
For the fourth quarter of 2024, Globant provided an outlook expecting revenues of at least $640 million and non-IFRS adjusted diluted EPS of at least $1.74 per share. The full-year 2024 outlook projects revenues of at least $2.415 billion and non-IFRS adjusted diluted EPS of at least $6.08 per share, indicating continued growth and profitability.
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