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DXC Technology Company (NYSE: DXC) stands as a leading independent IT services provider, offering a comprehensive range of end-to-end services to clients worldwide. Formed through the merger of CSC and the Enterprise Services business of Hewlett Packard Enterprise, DXC boasts a 60-year legacy of excellence in IT solutions, managing to generate annual revenues of $25 billion.
Headquartered in Ashburn, Virginia, DXC operates across more than 70 countries, making an impact with its diverse and global talent pool. The company's offerings span two key segments: Global Business Services (GBS) and Global Infrastructure Services (GIS), with the latter contributing the most to DXC's revenue. The GIS segment focuses on modern workplace solutions, IT outsourcing, cloud services, and robust security measures.
DXC's recent achievements include obtaining the Science Based Targets initiative (SBTi) approval for its near-term emissions reduction targets, underscoring its commitment to sustainable business practices. The company's pledge to sustainability has also been recognized with the EcoVadis Gold Medal for three consecutive years and a spot on USA Today's list of America's Climate Leaders for 2023.
Strategic partnerships are a cornerstone of DXC's business model. Notable collaborations include a recent alliance with CyCognito to enhance its cybersecurity services and a joint venture with Ferrovial and Microsoft to develop the generative AI platform Quercus. These partnerships are pivotal in driving innovation and providing cutting-edge solutions to clients globally.
DXC's financial health is solid, supported by a diversified revenue stream and a strong presence in the European market. The company continues to innovate with offerings like the new DXC Fast RISE with SAP service, which accelerates SAP S/4HANA projects, enabling faster time-to-value for customers. This service showcases DXC's ability to streamline IT processes and reduce the total cost of ownership for businesses.
As a trusted partner for the world's largest companies and public sector organizations, DXC excels in modernizing IT infrastructure, optimizing data architectures, and ensuring security and scalability across various cloud environments. The company remains dedicated to delivering top-tier performance, enhancing customer experiences, and driving competitive advantage for its clients.
DXC Technology (NYSE: DXC) has been recognized as a Leader in the Everest Group's 2022 PEAK Matrix® for Life and Pensions Insurance Business Process Services. This acknowledgment emphasizes DXC's commitment to the life and pensions sector, particularly through its strategic focus on business process services and innovative platforms like DXC Assure for Life and Wealth. The company has strengthened its North American presence and demonstrated its capability in handling various insurance blocks. DXC has held the Leader position for seven consecutive years, reflecting its sustained excellence in the market.
DXC Technology (NYSE: DXC) has committed to setting near-term company-wide emission reductions aligned with the Science Based Targets initiative (SBTi). The company aims for a 55% reduction in greenhouse gas emissions by 2025 from its fiscal year 2019 baseline, pending SBTi approval. Joining over 2,000 global firms, DXC emphasizes its sustainable practices, including renewable energy use and waste reduction. COO Chris Drumgoole stated this commitment is an investment in the future and part of DXC's transition to a virtual-first company with a focus on employee flexibility and sustainability.
DXC Technology has secured a
DXC Technology (NYSE:DXC) partners with GEFA BANK for a significant digital transformation initiative— the 'G-Rocket' program. This will involve migrating GEFA's critical applications to Microsoft Azure, enhancing flexibility and scalability. The collaboration extends until October 2027, with the goal of completing the migration by September 2022. Through this project, DXC aims to reduce time-to-market for new services and bolster development for innovative financial products, leveraging cloud-native technologies like Azure Kubernetes Service.
DXC Technology (NYSE: DXC) has secured a four-year contract with PreZero Group, a leading environmental services provider, to transform its IT systems. This collaboration aims to develop innovative waste recycling approaches for over 15 million citizens in Spain and Portugal. DXC will modernize PreZero's legacy IT estate, enhance digital platforms, and improve operational efficiency through cloud and security solutions. The partnership is expected to accelerate sustainable practices and strengthen PreZero's mission within the circular economy.
DXC Technology has appointed Raymond August as President of Insurance Software and Business Process Solutions, effective March 7, 2022. He will lead the growth and development of DXC's insurance software and business process services, focusing on enhancing revenue growth and operational transformation for clients. Starting in the first quarter of FY23, DXC will report these businesses separately within its Global Business Services. August brings nearly four decades of industry experience, most recently as CEO of Benefitfocus.
DXC Technology publicly condemns the Russian Government's aggression in Ukraine, which has resulted in humanitarian crises. The company prioritizes the safety of its 4,000 employees in Russia by providing shelter, financial assistance, and healthcare. DXC is ceasing operations in Russia, ensuring compliance with sanctions. Aligning with its 'People-first' strategy, the firm is matching employee donations to the Red Cross at 200%. DXC remains committed to supporting its colleagues and assessing the ongoing situation to mitigate impacts on its workforce and operations.
DXC Technology (NYSE: DXC) has been recognized as a Leader in the Everest Group's Cloud Services PEAK Matrix® Assessment 2022 for both North America and Europe. The report emphasizes DXC's comprehensive cloud services in consulting, modernization, and operations, highlighting its strengths in private and hybrid cloud solutions. The company's innovative operating model and customer engagement in project formulation are noted as key differentiators. Vinod Bagal, EVP of Global Delivery, stated that this recognition reflects DXC’s commitment to innovation in cloud services.
DXC Technology (NYSE: DXC) has signed a multi-year Managed Services agreement with the University of Newcastle to manage Oracle’s PeopleSoft Campus Solutions application and infrastructure. This strategic partnership marks a significant step for the university, enabling 24/7 operational support, technology management via AWS, and enhanced application service delivery. The collaboration aims to support the university’s mission of delivering high-quality education while optimizing operational efficiency and compliance with licensing.
DXC Technology reported Q3 FY22 revenues of $4.09 billion, a 4.6% decline year-over-year and 1.4% decline organically. Diluted EPS stood at $0.38, with non-GAAP diluted EPS at $0.92. The company recorded $5.0 billion in bookings, resulting in a strong book-to-bill ratio of 1.23x. Operating cash flow reached $696 million, yielding a free cash flow of $550 million. DXC plans to self-fund $1 billion for share repurchases, having already repurchased 6.8 million shares for $213 million during the quarter. Guidance for Q4 FY22 suggests revenues between $4.11 billion and $4.15 billion.
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