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.
DXC Technology reported Q2 FY23 revenues of $3.57 billion, an 11.4% decline year-over-year and a 1.5% drop on an organic basis. Net income rose to $28 million, improving from a loss of $187 million in the previous year. Diluted EPS stands at $0.12, with non-GAAP EPS at $0.75. The company achieved a free cash flow of $17 million amidst a trailing twelve-month book-to-bill ratio of 1.04x and 0.83x for the quarter. DXC reaffirmed guidance, aiming for organic revenue growth of 1%-3% in FY24.
DXC Technology (NYSE: DXC) has expanded its partnership with Dynatrace (NYSE: DT), making the Dynatrace Software Intelligence Platform the preferred software for DXC Platform X™. This collaboration aims to enhance observability and automated management of IT systems, improving efficiency in hybrid and multicloud environments. Recognized as the 2022 Partner of the Year by Dynatrace in North America, DXC will leverage its expertise and the Dynatrace platform to provide intelligent automation for better customer outcomes. The partnership aims for increased operational efficiencies and growth.
DXC Technology (NYSE: DXC) will announce its Q2 fiscal 2023 financial results on November 3, 2022, at approximately 4:15 p.m. EDT. A conference call and webcast will follow at 5:00 p.m. EDT. Domestic callers can dial 888-330-2455, while international participants should use +1-240-789-2717, with the passcode 4164760. A replay will be accessible until November 10, 2022. More details are available on DXC's Investor Relations website.
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On October 4, 2022, DXC Technology announced that management has been approached by a financial sponsor regarding a potential acquisition. During preliminary discussions, management is sharing information while remaining focused on the company's transformation journey. Notably, no formal acquisition proposal has been received yet, and there are no guarantees that a proposal will be adequate. DXC emphasizes its commitment to delivering for its customers and colleagues as it continues to execute its transformation strategy.
DXC Technology (NYSE: DXC) was named a Leader for the second consecutive year in the Everest Group ServiceNow Services PEAK Matrix® Assessment 2022. This recognition highlights DXC's innovation, strategic investments, and industry expertise in delivering global business transformation solutions. The report notes the increasing demand for ServiceNow due to digital transformation trends. DXC's Global Elite Partnership with ServiceNow and notable frameworks like DXC Platform X and Operational Resilience Framework further exhibit its capability to drive market growth.
DXC Technology (NYSE: DXC), a leading global tech services firm, will participate in Deutsche Bank's 2022 Technology Conference on September 1, 2022. John Sweeney, Head of Marketing & Investor Relations, is set to present at 11:00 AM EDT. The presentation will be available on DXC's investor webpage for stakeholders. DXC Technology specializes in optimizing IT and security across various cloud environments, helping major companies improve operational performance and customer experience. For more details, visit investors.dxc.com.
DXC Technology reported Q1 FY23 revenues of $3.71 billion, a 10.5% decline year-over-year and a 2.6% decrease organically. Diluted EPS stood at $0.43, compared to $1.07 in Q1 FY22. The company generated $163 million in operating cash flow but reported a free cash flow of $(12) million. The book-to-bill ratio was 0.87x for the quarter, with a trailing twelve-month ratio of 1.06x. DXC returned $266 million to shareholders via repurchases. Guidance for Q2 includes organic revenue growth between (2.5)% and (1.5)%.
DXC Technology collaborates with SAP to offer workforce management solutions for healthcare providers, focusing on employee well-being to enhance patient care. A recent Frost & Sullivan report emphasizes the need for supporting healthcare teams amid rising stress and demand. The study outlines various technological advancements aimed at improving staff experience and engagement. Key elements of DXC's Workforce Suite include talent management, career development, and performance management tools, assisting healthcare organizations in achieving better patient outcomes by prioritizing employee health.
DXC Technology's Americas Microsoft Dynamics team is joining Ernst & Young to enhance digital solutions for clients in finance, operations, and supply chain management. This acquisition supports EY's NextWave strategy, focusing on technology capabilities and improving business goals. The new team brings extensive Microsoft Dynamics experience, expanding EY's service offerings. With AI-driven insights and advanced analytics, the integration aims to strengthen EY's position in the digital transformation space, meeting high demand for Microsoft skills.