NEWTOWN, Pa. (AP) _ Epam Systems Inc. (EPAM) on Thursday reported first-quarter net income of $89.7 million.

The Newtown, Pennsylvania-based company said it had profit of $1.52 per share. Earnings, adjusted for non-recurring costs and stock option expense, were $2.49 per share.

The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.86 per share.

The information technology services provider posted revenue of $1.17 billion in the period, also exceeding Street forecasts. Six analysts surveyed by Zacks expected $1.03 billion.

For the current quarter ending in July, Epam expects its per-share earnings to be $1.70.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on EPAM at https://www.zacks.com/ap/EPAM

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