Welcome to our dedicated page for DXC Technology Company news (Ticker: DXC), a resource for investors and traders seeking the latest updates and insights on DXC Technology Company stock.
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 launched the new DXC ServiceNow Strategic Business Group to enhance its position as a leader in enterprise service management. This group will utilize DXC Platform X, recognized as a leader in cognitive IT management, to deliver cost-effective, automated services. With over 6,500 global implementations and plans to double its certified resources, DXC aims to help clients achieve 'silent operations'. Partnerships with firms like AEON demonstrate DXC's commitment to optimizing client technology strategies for digital transformation.
DXC Technology (NYSE: DXC) has been recognized as a Leader in five insurance categories by NelsonHall in its NEAT™ Life, Annuities & Pension: Operational Transformation 2021 report. The company excels in overall performance, digital transformation, and life claims administration. Key strengths include biometric integration, third-party administration capabilities in the U.S. and Canada, and AI-enhanced customer experience solutions. DXC aims to optimize operations, reduce costs, and improve customer satisfaction, reflecting a commitment to business transformation in the insurance sector.
DXC Technology (NYSE: DXC) will release its third quarter fiscal 2022 financial results on February 2, 2022, around 4:15 p.m. EDT. A conference call will follow at 5:00 p.m. EDT, open to domestic callers at 888-330-2455 and international callers at +1-240-789-2717, using passcode 4164760. The call's replay is available until February 9, 2022. Details for accessing the live webcast and a transcript will be on DXC's Investor Relations website.
DXC Technology has signed a multi-year agreement with Lloyd’s and the International Underwriting Association to transform the London insurance market. This initiative aims to enhance speed, security, and efficiency through advanced cloud and automation technologies, supporting Lloyd's goal of creating a technologically advanced insurance marketplace. The London insurance market contributes 7.6% to the global commercial (re)insurance market.
The transformation will involve rearchitecting IT systems and developing a cloud-native platform, ultimately improving operational costs and customer service.
DXC Technology has been appointed as the Master Systems Integrator for the Western Sydney International Airport, scheduled to open in 2026. This partnership with Chavali Consulting aims to establish a robust technology platform that integrates over 60 operational systems, enhancing security and customer experience. The airport will accommodate up to 10 million passengers annually at launch, expanding to 82 million by the 2060s. DXC’s involvement emphasizes innovation and job creation for the Greater Sydney area.
DXC Technology has secured a $6M contract from Renfe-LogiRAIL, Spain's national rail operator, to modernize its IT infrastructure. This initiative aims to support a projected 34% increase in passenger numbers and drive growth in freight services, with expectations of 120 million additional passengers and 1.5 million tonnes of freight in 2022. DXC will become Renfe's lead IT partner, enhancing operational efficiency and leveraging cloud technologies to manage critical IT systems.
DXC Technology has appointed Kristie Grinnell as senior vice president and chief information officer (CIO). Grinnell, formerly global CIO at General Dynamics Information Technology, will report to Chris Drumgoole, DXC’s COO. Her responsibilities will include leading global IT strategy, streamlining systems, and enhancing digital capabilities. With her extensive experience in IT transformation and supply chain management, Grinnell aims to improve performance and innovation at DXC. The company is focused on modernizing IT and ensuring security across various cloud platforms.
DXC Technology has secured a multiyear renewal agreement with Copa Airlines to modernize its legacy Passenger Service System (PSS) by migrating it to the public cloud. This transition, supported by Microsoft, aims to enhance Copa's digital transformation, providing a scalable and efficient IT platform without disrupting business operations. The project promises a nearly 99.5% automated migration rate and aims to significantly improve integration and reduce costs. Copa Airlines is recognized for its excellent service and punctuality across Latin America.
DXC Technology reported Q2 FY22 revenues of $4.03 billion, a decrease of 11.6% year-over-year. While diluted EPS was $(0.74), Non-GAAP diluted EPS improved 41% to $0.90. Cash flow from operations was $563 million, with free cash flow of $404 million. Despite a reduction in revenue guidance due to foreign exchange impacts, the company raised its Non-GAAP EPS and Adjusted EBIT margin guidance. The book-to-bill ratio stood at 0.91x compared to 1.08x in the previous year.
DXC Technology has secured a significant
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