EPAM Reports Second Quarter Revenue Growth as AI Strategy Gains Traction

The company reported GAAP income from operations at 10.8% of revenue, an improvement from the 9.3% recorded in the second quarter of 2025. Diluted earnings per share reached $1.97 on a GAAP basis, representing a 26.3% increase compared to the previous year. Non-GAAP diluted EPS rose to $3.38, up 22.0% over the same period.

Capital management remains a focus for the firm. EPAM utilized $85 million for share repurchases during the quarter, bringing the total expenditure for the first half of 2026 to $409 million. As of June 30, 2026, the company maintained a headcount of approximately 62,850 employees, with delivery professionals accounting for 56,650 of that total.

Looking ahead, EPAM anticipates full-year revenue growth between 3.2% and 4.2%. Management projects GAAP diluted EPS for the full year to land between $8.22 and $8.38. For the third quarter, the company expects revenue in the range of $1.410 billion to $1.425 billion, aiming for a year-over-year growth midpoint of 1.7%.