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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 reported Q4 FY24 revenues of $3.39 billion, a 5.7% YoY decline. The diluted EPS was $(1.10), an improvement from $(3.38) in Q4 FY23, while non-GAAP EPS was $0.97. Operating cash flow stood at $280 million, with free cash flow at $155 million. For FY24, free cash flow totaled $756 million. The company repurchased 6.2 million shares for $138 million. Segments showed mixed performance: GBS revenue fell 2.2% YoY, contributing $1.71 billion, while GIS revenue declined 9.0% to $1.67 billion. FY25 guidance includes revenues between $12.67 billion and $12.95 billion, with non-GAAP EPS between $2.50 and $3.00.
CEO Raul Fernandez expressed confidence in the company's future, highlighting the talent and value DXC brings to its customers.
DXC Technology, a Fortune 500 global technology services company, will participate in investor conferences hosted by J.P. Morgan and TD Cowen in May 2024. The President and CEO, Raul Fernandez, will hold investor meetings and fire side chats at these events, providing a webcast for the audience.
DXC Technology announced the appointment of Cameron Art as General Manager of the Americas and UKI markets, bringing over 25 years of tech experience. Art will focus on growth strategy, client relationships, and global strategic deals. With a background at IBM , Art's expertise will aid in driving profitable growth for DXC Technology.
DXC Technology appointed Patrick Thompson as Senior Vice President, Enterprise Transformation, bringing expertise in global enterprise business transformation. Thompson's background includes leading turnarounds, operational improvement, and global business services integration for Fortune 500 companies. He joins DXC to drive profitable growth and sharpen execution. His appointment follows DXC's recent leadership additions, emphasizing a focus on operational improvement and growth.
DXC Technology has been named a Leader in Everest Group's Mainframe Services PEAK Matrix Assessment 2024 and recognized as a Star Performer for its strong year-over-year performance. The company's expertise, focus on customer relations, and partnership with hyperscalers were highlighted in the report. DXC's robust DevOps frameworks and DXC Platform X solution contributed to its success, along with a commitment to talent development.
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