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 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.
On October 4, 2022, DXC Technology announced that management has been approached by a financial sponsor regarding a potential acquisition. During preliminary discussions, management is sharing information while remaining focused on the company's transformation journey. Notably, no formal acquisition proposal has been received yet, and there are no guarantees that a proposal will be adequate. DXC emphasizes its commitment to delivering for its customers and colleagues as it continues to execute its transformation strategy.
DXC Technology (NYSE: DXC) was named a Leader for the second consecutive year in the Everest Group ServiceNow Services PEAK Matrix® Assessment 2022. This recognition highlights DXC's innovation, strategic investments, and industry expertise in delivering global business transformation solutions. The report notes the increasing demand for ServiceNow due to digital transformation trends. DXC's Global Elite Partnership with ServiceNow and notable frameworks like DXC Platform X and Operational Resilience Framework further exhibit its capability to drive market growth.
DXC Technology (NYSE: DXC), a leading global tech services firm, will participate in Deutsche Bank's 2022 Technology Conference on September 1, 2022. John Sweeney, Head of Marketing & Investor Relations, is set to present at 11:00 AM EDT. The presentation will be available on DXC's investor webpage for stakeholders. DXC Technology specializes in optimizing IT and security across various cloud environments, helping major companies improve operational performance and customer experience. For more details, visit investors.dxc.com.
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