Dxc Technology Stock Price, News & Analysis

DXC Technology (NYSE: DXC) reported third-quarter results for fiscal year 2021, showing revenue of $4,288 million and net income of $1,103 million. Non-GAAP net income was $221 million, with diluted EPS at $4.29. Global Business Services (GBS) revenue fell 18.6% year-over-year, while Global Infrastructure Services (GIS) revenue decreased 11.1%. Bookings totaled $2.7 billion for GBS and $2.2 billion for GIS. Despite declining revenues, the company reported improved margins and exceeded non-GAAP diluted EPS guidance, indicating effective cost optimization.

DXC Technology received an unsolicited proposal from Atos SE, which was deemed inadequate by DXC's Board. After evaluating the offer, the Board concluded it did not reflect the value DXC could create independently. Discussions between the two companies have ceased. DXC remains optimistic about its transformation strategy and reported exceeding its financial guidance in the third quarter, achieving a book-to-bill ratio greater than 1.0x. Full third-quarter results will be disclosed on February 4, 2021.

DXC Technology announced the release of its third quarter financial results for fiscal 2021, scheduled for February 4, 2021, at 4:15 p.m. EST. Senior management will host a conference call at 5:00 p.m. EST, with domestic callers dialing 800-949-2175 and international callers using +1-323-994-2131. The conference replay will be available until February 11, 2021. For more details, including the webcast and presentation slides, visit DXC's Investor Relations website.

DXC Technology (NYSE: DXC) announced it received an unsolicited, non-binding acquisition proposal from Atos SE. The DXC board will evaluate this proposal while maintaining its focus on customer service and its ongoing transformation journey. Notably, DXC had no prior knowledge of Atos's interest before receiving the proposal. The company's commitment to its stakeholders remains strong as it assesses this potential acquisition.

DXC Technology (NYSE: DXC) has renewed its IT outsourcing contract with SEG Automotive Germany GmbH for five years. This partnership allows DXC to manage SEG's data center, facilitating the optimization of IT investments and a shift towards cloud solutions. The management will leverage a hybrid strategy, combining DXC’s virtual private cloud and Microsoft Azure, aiming for cost savings and enhanced operational efficiency. SEG anticipates a 20% reduction in system costs, highlighting DXC's expertise and understanding of its business needs.

DXC Technology has been ranked number one for customer satisfaction in Spain's 2020 IT Outsourcing Study, conducted by Whitelane Research, moving up from second place in 2019. This recognition highlights the 'new DXC' and its commitment to outstanding service delivery. The study evaluated over 620 IT sourcing relationships and recognized DXC for its leadership in IT outsourcing and cloud capabilities. Notably, 84% of surveyed companies identified DXC as a leading national provider of public cloud services, reflecting its ability to support clients in cloud transformation journeys.

DXC Technology has forged a partnership with Infinia ML to enhance its machine learning and data analytics capabilities. This collaboration aims to automate document processing, improve IT system performance, and provide advanced AI auditing to ensure optimal functioning. The initiative focuses on delivering innovative, data-driven solutions, including natural language processing and behavior prediction, to enhance customer support and operational efficiency. The partnership signals DXC's commitment to leveraging advanced technologies to drive business results and improve client experiences.

DXC Technology has appointed Ken Sharp as the new executive vice president and chief financial officer, effective November 30, 2020. Sharp brings extensive experience from Northrop Grumman and previous roles at Leidos and Computer Sciences Corporation. Reporting to Mike Salvino, DXC's president and CEO, Sharp will oversee the company's global financial strategy, accounting, and investor relations. Sharp's appointment aims to enhance DXC's transformation journey, as expressed by both Sharp and Salvino.