Globant S.A. (NYSE:GLOB) Q2 2019 Earnings Conference Call - Final Transcript

Aug 15, 2019 • 04:30 pm ET


Globant S.A. (NYSE:GLOB) Q2 2019 Earnings Conference Call - Final Transcript


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Good afternoon, and welcome to the Globant Second Quarter 2019 Earnings Conference Call. [Operator Instructions]

I would now like to turn the conference over to Paula Conde, Investor Relations Officer. Please go ahead.

Paula Conde

Thank you, operator, and thanks, everyone, for joining us today. We're now going to review our 2019 second quarter financial results. By now, you should have received a copy of the earnings release. If you have not, a copy is available on our website, Our speakers today are Martin Migoya, Chief Executive Officer; Juan Urthiague, Chief Financial Officer.

Before we begin, I would like to remind you that some of the comments on our call today may be deemed forward-looking statements. This includes our business and financial outlook and the answers to some of your questions. Such statements are subject to the risks and uncertainties as described in the Company's earnings release and other filings with the SEC.

Please note that we follow IFRS accounting rules in our financial statements. During our call today, we will report non-IFRS or adjusted measures, which is how we track performance internally and the easiest way to compare Globant to our peers in the industry. You will find a reconciliation of IFRS and non-IFRS measures at the end of the press release we published on our Investor Relations website announcing this quarter results.

I'd like now to turn the call over to Martin Migoya, our CEO.

But first, I'd like to congratulate him on being recognized as top CEO of the year in the results oriented category of the CEO World's award. It is a true honor for all of us Globers and shows how we are setting industry benchmark for excellence. Congratulations, Martin.

Martin Migoya

Think you, Paula. Hi, everyone. Thanks for joining us today. First, let me say that receiving the Top CEO of The Year Award is a recognition to all our Globers. I'm very pleased and extremely happy about this recognition, and I want to extend that to all our people around the world that make this Company really, really great. Together, we have created a unique culture. Our autonomous, Agile, and innovative teams are key to deliver the best solutions for our customers. So thank you very much for that.

I'm pleased to share with you some updates on our business and financial performance for the three months ended June 30th 2019. At the end of the call, our CFO, Juan Urthiague, will share with you our outlook for Q3 and the rest of 2019.

Q2 was another record quarter for Globant. Our revenues for the second quarter increased to $157.5 million, representing a 23.2% year-over-year growth. At the same time, adjusted diluted EPS for this quarter was $0.53. Our ability to nurture long-term relationships and to expand into multiple divisions within our customers are leading our growth.

Before letting Juan dive deeper into our financial performance, let me go over some of our latest news. We continue to see a strong demand coming from organizations as they