DXC Technology Company reports developments across enterprise technology services for global enterprises and public-sector organizations. Its news centers on quarterly results, bookings, margins, cash flow, segment performance and share repurchases, alongside updates in Managed Infrastructure Services, Application Modernization and Industry-Specific Software Solutions.
Company announcements also cover AI-led managed services and consulting initiatives, including DXC OASIS, Assure Smart Apps built on ServiceNow, Consulting & Engineering Services updates, partnerships, investor conference participation, and reporting structure across Consulting & Engineering Services, Global Infrastructure Services and Insurance Services.
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DXC Technology reported mixed results for Q1 FY24. Revenue was $3.45 billion, down 7.0% year-over-year and 3.6% organically. Diluted EPS was $0.17, while Non-GAAP Diluted EPS was $0.63. The company generated $127 million in operating cash flow and $(75) million in free cash flow. DXC achieved a book-to-bill ratio of 0.89x for the quarter and 1.03x for the trailing twelve months.
Key highlights include:
- Repurchased 11.0 million shares for $280 million
- GBS segment revenue down 3.1% but up 3.3% organically
- GIS segment revenue down 10.6% and 9.9% organically
- Reduced FY24 guidance due to challenging economic environment
DXC remains committed to completing its $1 billion share repurchase program in FY24.
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