EPAM Systems Strengthens Collaboration with Oracle for AI Growth
Enhancing AI and Cloud Solutions
EPAM Systems Inc. (NYSE: EPAM) has recently announced a significant expansion of its partnership with Oracle Corporation (NYSE: ORCL) aimed at assisting businesses across various sectors, including healthcare, life sciences, financial services, and insurance, to effectively integrate Oracle Cloud Infrastructure (OCI) and artificial intelligence services into their operations.
This collaboration is designed to expedite the process of digital transformation by seamlessly incorporating Oracle's cloud solutions alongside AI technologies into existing business strategies.
EPAM's Expertise in Oracle Technologies
Boasting over 1,100 Oracle certifications globally, EPAM emphasizes its capabilities across diverse Oracle domains, such as OCI Data Management, Integration, Migration, Security, and the transition from Oracle Database to Cloud. This demonstrates EPAM's proficiency in successfully deploying and managing Oracle Cloud Infrastructure strategies for clients.
Their comprehensive certifications process involves rigorous assessments, including customer case studies to evaluate satisfaction and performance effectively, ensuring that EPAM maintains high service standards.
Industry Insights
David Hicks, Group Vice President of the ISV Ecosystem at Oracle North America, commented on the partnership, stating, "Enterprises today require practical AI solutions that address real-world challenges and foster business growth. By collaborating with EPAM, we simplify the process for our shared clients to utilize cloud and AI services, enhancing their operational efficiency and enabling data-driven decision-making."
Vlad Agres, Vice President of Cloud Business at EPAM, echoed similar sentiments, highlighting that "EPAM harnesses over 30 years of engineering expertise combined with a profound understanding of Oracle products and platforms to offer AI and cloud-native solutions tailored for our global clientele."
Financial Performance and Forecast
Recently, EPAM Systems disclosed its impressive financial results, reporting adjusted earnings of $2.77 per share for the second quarter, surpassing analyst expectations of $2.60. The company's revenue reached $1.35 billion, slightly beating the consensus estimate of $1.33 billion.
As for the third quarter, EPAM anticipates adjusted earnings per share (EPS) ranging from $2.98 to $3.06, along with projected revenues of $1.365 billion to $1.38 billion, both figures exceeding Wall Street's forecasts.
Moreover, EPAM revised its full-year 2025 outlook upward, projecting an adjusted EPS between $10.96 and $11.12, improving from its previous estimate of $10.70 to $10.95. The revenue forecast was also increased to a range of $5.34 billion to $5.44 billion, compared to the earlier projection of $5.27 billion to $5.41 billion.
Market Reactions
In the financial markets, EPAM shares experienced a decline of 1.59%, trading at $150.08, while Oracle's shares also saw a decrease of 3.94%, trading at $280.11 as of the latest updates. This fluctuation reflects the ongoing volatility in the tech sector.
Looking Ahead
The strengthening of the partnership between EPAM and Oracle hints at exciting prospects not just for both companies, but also for the many industries they serve. As they push forward in the realms of AI and cloud technology, clients can expect enhanced solutions that are both innovative and practical.
Frequently Asked Questions
What is the focus of EPAM and Oracle's partnership?
The partnership aims to assist businesses in adopting Oracle Cloud Infrastructure and AI services, enhancing their operations across various sectors.
What certifications does EPAM hold?
EPAM has over 1,100 Oracle certifications in areas such as OCI Data Management, Integration, Security, and more, highlighting its expertise in Oracle technologies.
What has been EPAM's recent financial performance?
EPAM reported adjusted earnings of $2.77 per share for the second quarter, exceeding analyst expectations, along with notable revenue growth.
What are the future projections for EPAM’s earnings?
For the third quarter, EPAM predicts adjusted EPS between $2.98 and $3.06, and raised its full-year 2025 outlook for EPS and revenue.
How did the stock prices of EPAM and Oracle change recently?
EPAM shares decreased by 1.59%, while Oracle shares fell by 3.94%, reflecting market volatility in the technology sector.
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