Grid Dynamics Holdings, Inc. announced its financial results for the third quarter ended September 30, 2024, reporting record revenues of $87.4 million. This figure represents a 13% increase year-over-year and surpassed the company's previous outlook range.
The company achieved a GAAP net income of $4.3 million, translating to $0.05 per diluted share, with adjusted earnings reaching $0.10 per share. The Finance vertical demonstrated significant strength, growing 63.8% sequentially and 180.1% year-over-year, driven by increased demand from fintech and insurance customers, as well as recent acquisitions.
For the fourth quarter of 2024, Grid Dynamics provided a revenue outlook in the range of $95.0 million to $97.0 million, which exceeded the consensus estimate of $86.11 million. This positive guidance reflects confidence in continued growth and the successful integration of recent acquisitions.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.