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 Q3 FY23 revenues of $3.57 billion, down 12.8% from the previous year and 3.8% organically. Diluted EPS was $0.25, while Non-GAAP EPS was $0.95.
The company achieved a trailing twelve-month book-to-bill ratio of 1.06x and reported free cash flow of $463 million. A significant milestone includes the successful sale of German bank assets for $323 million, part of a $500 million portfolio initiative.
Looking ahead, DXC plans to utilize excess cash for debt reduction and share repurchases totaling $1 billion, indicating confidence in its future performance.
DXC Technology (NYSE: DXC) has been recognized as a Leader in Everest Group's Digital Claims in Property and Casualty Insurance Solutions PEAK Matrix® Assessment 2022. This accolade highlights DXC's strong market presence, particularly through its DXC Assure Claims software, which offers comprehensive claims management solutions and is appreciated by clients for its user-friendly features and robust reporting capabilities. The company's commitment to enhancing its service offerings, including partnerships for electronic payments and customer analytics, underlines a diversified revenue strategy. Additionally, DXC has expanded its claims management services in Australia, demonstrating further growth potential.
DXC Technology (NYSE: DXC) will release its third-quarter fiscal 2023 financial results on February 1, 2023, at approximately 4:15 PM EST. Following this, a conference call and webcast will occur at 5:00 PM EST. Domestic callers can dial 888-330-2455, and international callers should use +1-240-789-2717 with passcode 4164760. A replay of the call is available until February 8, 2023. The company emphasizes its commitment to delivering excellence in IT solutions, catering to some of the world's largest enterprises. For more information, visit DXC.com.
DXC Technology (NYSE: DXC) forecasts significant changes in the cybersecurity landscape for 2023 and beyond, highlighting five key trends. These include an acceleration in the cybersecurity arms race, heightened risks in the metaverse, increased geopolitical cyber threats, targeted attacks on critical infrastructure, and substantial growth in cybersecurity career opportunities due to a global shortage of approximately 3.4 million cybersecurity professionals. As cyber threats evolve, DXC emphasizes the necessity for robust defenses and innovations to tackle these challenges.
DXC Technology announced the immediate appointment of Anthony Gonzalez and Karl Racine to its Board of Directors. Gonzalez, a former U.S. congressman, will join the Compensation Committee, while Racine, the former attorney general of D.C., will serve on the Nominating/Corporate Governance Committee. The additions reflect ongoing efforts to enhance the board's diversity and leadership capabilities. Since August 2020, DXC has added seven new board members, bringing a range of skills and perspectives to support the company's strategic direction.
DXC Technology (NYSE: DXC) has announced five transformative ways the metaverse will impact work and life over the next five years. Key highlights include:
- Enhanced workplace collaboration through immersive technologies.
- Large-scale professional events transitioning to virtual platforms.
- Entertainment and dating experiences evolving into the metaverse.
- Brands engaging customers with virtual experiences.
- Revolutionized recruitment and onboarding processes.
This evolution aims to increase productivity, inclusivity, and brand engagement.
DXC Technology's Digital Journey Monitor 2023 reveals that over 300 experts in the DACH region foresee a significant shift in digital technology investments over the next three years. The top priorities include process automation, artificial intelligence, and cloud platforms. Notably, 60% of companies will increase funding for process automation, with 54% targeting AI for cost optimization, and 52% planning to invest in cloud solutions to enhance innovation. This report underscores the urgent need for companies to leverage digital transformation to overcome business challenges.
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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