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Kyndryl Holdings, Inc. (NYSE: KD) is the world's largest IT infrastructure services provider, serving thousands of enterprise customers in over 60 countries. The company offers advisory, implementation, and managed services across a spectrum of technology domains, helping businesses modernize and manage their enterprise IT environments. Kyndryl's operations are segmented into Principal Markets—including regions like Australia/New Zealand, Canada, France, and the United States—and Strategic Markets.
Recently, Kyndryl renewed a five-year agreement with Ernst & Young LLP (EY) to manage and modernize its SAP environment, further enhancing security and operational efficiency. This collaboration highlights Kyndryl's expertise in managing mission-critical IT systems with a blend of on-premises and cloud solutions.
In another significant partnership, Kyndryl continues to modernize Honda's logistics operations using its Kyndryl Bridge platform. This initiative aims to improve the agility, standardize processes, and future-proof Honda's IT systems. Kyndryl Bridge's AI and automation capabilities are crucial in delivering these improvements.
Kyndryl has also announced its financial results for the fourth quarter and full fiscal year ending March 31, 2024. The company reported revenues of $3.8 billion for the quarter and $16.1 billion for the fiscal year, reflecting efforts to optimize contract terms and improve margins. The company's strategic focus on growth initiatives like advanced delivery and AI-powered platforms is expected to drive future profitability.
Additionally, Kyndryl has formed a strategic alliance with Rubrik, a leader in Zero Trust Data Security™, to enhance cyber resilience for their customers. This collaboration introduces Kyndryl Incident Recovery with Rubrik, offering comprehensive data protection and disaster recovery solutions.
Kyndryl continues to innovate with Kyndryl Bridge, its AI-powered digital business platform, which has surpassed its initial targets by onboarding 1,200 enterprise customers and introducing over 190 new services. This platform integrates AI and automation to provide enhanced observability, orchestration, and efficiency for enterprise IT environments.
In a recent collaboration with NVIDIA, Kyndryl aims to accelerate the development and deployment of AI-powered insights across various industries. By leveraging NVIDIA's technologies, Kyndryl is set to offer advanced AI solutions that enhance operational efficiency, security, and innovation.
For more information, visit Kyndryl's website.
Kyndryl Holdings, Inc. (NYSE: KD) will announce its fourth quarter and full year results for the period ending March 31, 2023, on May 16, 2023, after market close. The company's Chairman and CEO, Martin Schroeter, along with CFO David Wyshner, will host an earnings call on May 17, 2023, at 8:30 a.m. ET. Investors can access the live webcast via Kyndryl's investor relations website, with a slide presentation available shortly before the call.
Kyndryl provides IT infrastructure services globally, supporting numerous enterprise customers across more than 60 countries.
Kyndryl (NYSE: KD) has launched the Kyndryl Data and AI Console, a new solution that enhances data governance and observability. This console integrates data operations, allowing organizations to monitor their data from creation to consumption, improving decision-making processes. Key features include automated tagging, data lineage tracing, and risk mitigation support, which facilitate a unified view of the data lifecycle. Built with an open architecture, the console can seamlessly integrate into existing technology environments, leveraging prior investments while promoting modernization. For more details, visit www.kyndryl.com/us/en/services/data.
Kyndryl has announced a 5-year agreement with Delta Air Lines to enhance IT resiliency and scalability. This partnership aims to support Delta's operational systems, including crew scheduling, maintenance documentation, and customer relations. With air travel returning to pre-pandemic levels, Delta relies heavily on flexible IT infrastructure to manage over 4,000 daily flights. Kyndryl’s experience in IT services is crucial for Delta to achieve reliability and innovate further. Kyndryl's long-standing relationship with Delta emphasizes their commitment to excellence in airline service.
Kyndryl and Nokia have announced a three-year extension of their global partnership to develop LTE and 5G private wireless services and Industry 4.0 solutions. The partnership includes Kyndryl achieving Nokia's Digital Automation Cloud (DAC) Advanced accreditation. A new innovation lab will open in Raleigh, North Carolina, focusing on integrated wireless connectivity and advanced security models. With over 100 active engagements globally, the collaboration aims to drive digital transformations in industrial sectors, notably involving enterprises such as Dow Chemical, enhancing worker safety and operational efficiency.
Kyndryl reported revenues of $4.3 billion for the quarter ended December 31, 2022, a 6% decline year-over-year, with a net loss of $106 million. Adjusted EBITDA dropped from $679 million to $580 million, impacted by unfavorable currency movements. Despite a 3% increase in constant currency, the company faced a $138 million pretax loss. Kyndryl aims to achieve $1 billion in hyperscaler signings and has redeployed resources to improve margins. The company raised its revenue outlook for the fiscal year 2023 to $16.8 – $17.0 billion and reaffirmed its adjusted EBITDA margin guidance.
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