EPAM Systems Inc. (NYSE:EPAM) announced on Tuesday that it has deepened its partnership with Oracle Corporation (NYSE:ORCL) to help companies in sectors such as healthcare, life sciences, financial services, and insurance adopt Oracle Cloud Infrastructure (OCI) and artificial intelligence services.
The collaboration aims to accelerate digital transformation by embedding Oracle Cloud Infrastructure (OCI) and AI services into their cloud strategies.
EPAM stated that it holds more than 1,100 Oracle certifications worldwide, spanning areas such as OCI Data Management, Integration, Migration, Security, and Oracle Database-to-Cloud transitions, underscoring its expertise in implementing and managing Oracle Cloud Infrastructure.
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The certifications are granted following a rigorous review process that includes customer case studies and satisfaction assessments.
David Hicks, Group Vice President, ISV Ecosystem, Oracle North America, stated, “Enterprises today need effective AI solutions that help solve real-world problems and grow their businesses. Working with EPAM, we make it easier for our joint customers to leverage cloud and AI services to streamline their operations and make data-driven decisions.”
“EPAM leverages more than 30 years of engineering expertise and a deep knowledge of Oracle products and platforms to deliver AI and cloud-native solutions to our global clients,” said Vlad Agres, Vice President of Cloud Business at EPAM.
Financial Performance
In August, EPAM Systems reported second-quarter adjusted earnings of $2.77 per share, topping analysts’ estimates of $2.60, while revenue rose to $1.35 billion, slightly ahead of the $1.33 billion consensus.
For the third quarter, the company expects adjusted EPS of $2.98 to $3.06, along with revenue of $1.365 billion to $1.38 billion, both of which are above Wall Street forecasts.
EPAM also raised its full-year 2025 outlook, projecting adjusted EPS of $10.96 to $11.12, up from its prior range of $10.70 to $10.95, and revenue of $5.34 billion to $5.44 billion, compared with the previously projected range of $5.27 billion to $5.41 billion.
Price Action: EPAM shares were trading lower by 1.59% to $150.08, while ORCL shares were also trading lower by 3.94% to $280.11 at last check Tuesday.
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