EPAM IT giant's profit struck in the background of war in Ukraine

Epam left the Russian market after the start of a full -scale invasion of the Russian Federation into Ukraine (photo: photo: Epam Via Facebook) The EPAM net profit of the company fell by more than 80%. The company has lost millions of exit from Russia and relaxation of employees. According to the results of the second quarter of 2022, the net profit of the international IT company EPAM fell six times - up to $ 18. 6 million, according to the company report.

At the same time, in the six months the difference is much smaller - $ 223. 7 million last year against $ 108. 3 million this year. The company's revenue has increased 35. 6% by the quarter to almost $ 1. 2 billion. Due to the exit from the Russian IT giant market, it has lost tens of millions of dollars: over $ 19. 5 million due to depreciation of assets, another $ 16 million due to the dismissal of experts. The company spent $ 33.