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 reported mixed results for Q1 FY24. Revenue was $3.45 billion, down 7.0% year-over-year and 3.6% organically. Diluted EPS was $0.17, while Non-GAAP Diluted EPS was $0.63. The company generated $127 million in operating cash flow and $(75) million in free cash flow. DXC achieved a book-to-bill ratio of 0.89x for the quarter and 1.03x for the trailing twelve months.
Key highlights include:
- Repurchased 11.0 million shares for $280 million
- GBS segment revenue down 3.1% but up 3.3% organically
- GIS segment revenue down 10.6% and 9.9% organically
- Reduced FY24 guidance due to challenging economic environment
DXC remains committed to completing its $1 billion share repurchase program in FY24.
FAQ
What is the current stock price of DXC Technology Company (DXC)?
What is the market cap of DXC Technology Company (DXC)?
What is DXC Technology?
How was DXC Technology formed?
What are the main business segments of DXC Technology?
What recent achievements has DXC Technology accomplished?
What is the focus of DXC's Global Infrastructure Services (GIS)?
Who are some of DXC's strategic partners?
What is DXC Fast RISE with SAP?
How does DXC contribute to sustainability?
Where does DXC Technology generate most of its revenue?
How does DXC ensure security and scalability in its services?
