Globant S A Stock Price, News & Analysis

Globant (NYSE: GLOB) has launched its new Reinvention Studios to enhance digital transformation across various industries, including Financial, Travel & Hospitality, and Airlines. This initiative aims to consolidate the company's industry knowledge and support clients in navigating rapid changes in the market. The Reinvention Studios will complement existing Digital Studios, focusing on advanced technologies like the Metaverse, Data & AI, and Blockchain. The move is positioned as a response to evolving customer expectations and aims to drive sustainable business transformations.

Globant reported strong third quarter results with revenues of $341.8 million, a year-over-year increase of 65.0%. IFRS Diluted EPS was $0.60, up from $0.30 in Q3 2020. Non-IFRS Adjusted Diluted EPS reached $0.98, compared to $0.56 a year earlier. The company experienced improved profit margins, with an IFRS Gross Profit Margin of 38.5% and Profit from Operations Margin of 11.6%. Looking ahead, Q4 revenues are projected to exceed $359 million, indicating strong demand and continued growth.

Globant (NYSE: GLOB) announced its definitive agreement to acquire Navint, a leading Lead-to-Revenue Salesforce partner, aimed at enhancing growth and operational efficiency. This acquisition reinforces Globant's Salesforce Studio and expands its expertise in Salesforce Revenue Cloud solutions, following its earlier acquisition of Walmeric. Navint brings a team of 130 specialists proficient in various industries, bolstering Globant's capabilities in digital transformation and maximizing ROI on Salesforce investments. Completion is subject to customary closing conditions.

Globant (NYSE: GLOB) will announce its third-quarter financial results for the period ending September 30, 2021, on November 18, 2021, after market close. Following the announcement, CEO Martin Migoya and CFO Juan Urthiague will host a video conference call at 4:30 PM ET to discuss these results. Globant, a digitally native technology services company with over 20,000 employees across 18 countries, partners with major companies such as Google and Santander. For more details, visit the company's website or access the earnings call link provided.

Globant (NYSE: GLOB) has launched the BeKindTech Fund, a $10 million initiative aimed at addressing the societal issues arising from technology misuse. The fund invites global tech startups to apply for investments ranging from USD 100K to USD 1 million. The selection will focus on projects that can effectively change user behavior and promote positive practices. CEO Martín Migoya highlighted the importance of ensuring technology serves humanity positively, amidst rising concerns over issues like social media addiction and AI bias.

Globant (NYSE: GLOB) will host a global online event titled CONVERGE: The Power of Reinvention on November 10th at 12pm EST. Hosted by James Corden, prominent speakers include will.i.am and Prof. Yuval Noah Harari, discussing the future of technology in business. The event will cover trends like AI, metaverse, and blockchain, aimed at guiding organizations in leveraging innovation. Free registration is available at CONVERGE website.

Globant has launched a new Metaverse Studio, becoming the first tech services company to specialize in the metaverse. This initiative aims to provide organizations with innovative solutions to harness opportunities within the metaverse. Over 2000 skilled professionals will support this effort, focusing on digitalization, media, gaming, and blockchain. Globant will host a panel at its Converge event on November 10th, discussing the metaverse's impact on businesses. CEO Martín Migoya emphasizes that these digital spaces will enhance engagement and allow brands to innovate their customer interactions.

Globant (NYSE: GLOB) has joined the Green Software Foundation, an initiative formed in May 2021, aimed at promoting sustainable software practices to combat climate change. This move is part of Globant's ongoing commitment to sustainability, building on its Net Zero Roadmap that aims for carbon neutrality by year-end 2021. Santiago Fontanarrosa, VP of Technology at Globant, emphasizes the company's responsibility to create greener technology. The organization now includes 14 members, collaborating to share best practices in reducing carbon emissions from software development.