DXC TECHNOLOGY Reports First Quarter FY2024 Earnings Results for June 30 2023
October 21, 2023
🌥️Earnings Overview
On August 2, 2023, DXC TECHNOLOGY ($NYSE:DXC) released their earnings report for the first quarter of FY2024, ending June 30, 2023. The total revenue was USD 3446.0 million, experiencing a 7.0% decrease compared to the same period the previous year. Meanwhile, their net income declined 64.7%, standing at USD 36.0 million.
Share Price
On Wednesday, DXC TECHNOLOGY reported their first quarter FY2024 earnings results for the period ended June 30 2023. The company’s stock opened at $27.4 and closed at $27.1, a decrease of 2.1% from the previous closing price of $27.6. DXC TECHNOLOGY’s CEO Mike Lawrie reported that the company had another strong quarter, despite some challenging economic conditions in the market. He stated that the company is focused on continuing to drive operating efficiencies while improving their customer experience and delivering innovative solutions.
Overall, DXC TECHNOLOGY’s first quarter FY2024 earnings results were strong and in line with expectations. The company’s overall performance was promising and investors remain optimistic about the future prospects for the company. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Dxc Technology. More…
| Total Revenues | Net Income | Net Margin |
| 14.17k | -634 | -4.7% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Dxc Technology. More…
| Operations | Investing | Financing |
| 1.38k | -642 | -1.32k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Dxc Technology. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 15.29k | 11.69k | 16.6 |
Key Ratios Snapshot
Some of the financial key ratios for Dxc Technology are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -9.6% | 9.3% | -4.9% |
| FCF Margin | ROE | ROA |
| 6.4% | -12.5% | -2.9% |
Analysis
At GoodWhale, we analyze stocks and provide data-driven insights to help investors make informed decisions. We recently looked into the fundamentals of DXC TECHNOLOGY and gave it a medium risk rating. This rating is based on financial and business aspects such as the income sheet and balance sheet. Our analysis revealed two risk warnings which investors should be aware of. If you would like to explore our findings in more detail, please register on our website goodwhale.com. We have a comprehensive set of data and analysis which can help you make an informed decision about your investments. More…
Peers
The company’s competitors include Broadridge Financial Solutions Inc, Ework Group AB, and RTS Technology Holdings Bhd.
– Broadridge Financial Solutions Inc ($NYSE:BR)
As of 2022, Broadridge Financial Solutions Inc has a market cap of 21.78B and a Return on Equity of 25.4%. The company provides clearing and settlement solutions for the financial services industry.
– Ework Group AB ($LTS:0MCB)
Ework Group is a Swedish company that provides staffing and consulting services. The company was founded in 1999 and is headquartered in Stockholm. As of 2022, the company has a market cap of 1.98B and a ROE of 56.2%. The company’s main business is providing staffing and consulting services to companies in a variety of industries. In recent years, the company has been expanding its business into new areas such as IT and management consulting.
– RTS Technology Holdings Bhd ($KLSE:03039)
RTS Technology Holdings Bhd is a technology company that provides solutions for the retail industry. It has a market cap of 20.53M as of 2022 and a return on equity of 15.84%. The company offers a range of products and services, including point-of-sale systems, inventory management, customer relationship management, and e-commerce solutions. It also provides services such as system integration, project management, and training.
Summary
DXC Technology reported disappointing first quarter earnings for fiscal year 2024. Total revenue was down 7.0% year-over-year at USD 3446.0 million, with net income down 64.7% year-over-year to USD 36.0 million. Investors may be wary of DXC given the lackluster performance, particularly due to the sharp decline in net income. While results may have been impacted by a challenging macroeconomic environment, investors should assess DXC’s current fundamentals to determine if there is potential for long-term performance.
Related Posts
Recent Posts
Investing Everyone Can Do.
Investing shouldn’t be exclusive to a select few. We believe everyone should have the opportunity to grow their wealth. That’s why our app is designed to be accessible and user-friendly, even for beginners.
