Luxembourg-based IT and software development company Globant ended its 2024 financial year with sales up 15.3% to $2.415bn. This performance, underpinned by strong activity in the final quarter (up 10.6% to $642.5m), illustrates the group's growth momentum, despite a slight fall in its International Financial Reporting Standards gross profit margin to 35.7%, compared with 36.1% a year earlier.

Shareholders can rejoice: diluted earnings per share have also risen, from $3.64 in 2023 to $3.72 in 2024. This growth is fuelled in particular by "the expansion of our service offering and our global footprint", stated Globant's CFO, Juan Urthiague. He pointed to the significant contribution made by the AI Industry Reinvention Studio Network and the GUT Studio Network, both of which recorded above-average growth for the company.

"This is also in line with our expectations and underlines our commitment to profitable expansion. Our healthy margins demonstrate our operational efficiency, even as we navigate through ever-changing market dynamics. We are confident in our ability to maintain this momentum and build on our success as we approach 2025," said Urthiague.

For the first quarter of 2025, Globant expects sales growth of between 8.2% and 10%, representing estimated revenues of between $618m and $628m. For the year as a whole, the company is targeting revenues of between $2.635bn and $2.705bn (between +9.1% and +12%). "We remain confident in Globant's future, as we continue to be at the forefront of trends and technological advances", said Globant CEO and co-founder Martín Migoya.

Founded in Buenos Aires in 2003, Globant has since transferred its headquarters to Luxembourg. The company now employs more than 31,200 people in 30 countries across five continents, and its clients include giants such as Google, Electronic Arts and Santander.

Read the original French-language version of this news report /