Feb 20 (Reuters) - EPAM Systems ( EPAM ) forecast

first-quarter revenue above Wall Street expectations and beat

quarterly results estimates on Thursday, driven by strong demand

for its software services as businesses invest in digitizing

their operations.

EPAM ( EPAM ), which provides IT services ranging from consulting

and cybersecurity to product development, has seen an increase

in demand from companies looking to automate their businesses

and increase investments in AI-driven applications.

The Newtown, Pennsylvania-based company expects to generate

revenue in a range of $1.28 billion to $1.29 billion in the

first quarter, above analysts' average estimate of $1.27

billion, according to data compiled by LSEG.

Worldwide IT spending is expected to reach $5.61 trillion in

2025, an increase of 9.8% from a year ago, according to research

firm Gartner.

Last week, EPAM's ( EPAM ) peer Freshworks ( FRSH ) forecast annual

revenue and profit above Wall Street estimates, betting on

growing demand for its enterprise software.

EPAM ( EPAM ) forecast revenue growth rate to be in the range of 10%

to 14% for 2025, compared to analysts' expectations of 11.4%.

The company reported fourth-quarter revenue of $1.25

billion, beating estimates of $1.21 billion. It posted an

adjusted profit per share of $2.84 for the three months ended

December 31, compared to analysts' estimate of $2.75.

The company expects adjusted profit between $2.22 and $2.32

per share for the first quarter compared with estimate of $2.59

per share.