KYNDRYL HOLDINGS Reports Earnings Results for First Quarter of FY2024 on June 30, 2023
August 20, 2023
🌥️Earnings Overview
KYNDRYL HOLDINGS ($NYSE:KD) released their earnings results for the first quarter of FY2024 on June 30, 2023. Total revenue for the period wasUSD 4193.0 million – a 2.2% decrease from Q1 of the prior year. Net income for the quarter was reported as USD -141.0 million – a 44.0% decrease from the same quarter of the prior year.
Market Price
The stock opened at $12.7 and closed at $12.4, down 2.1% from its prior closing price of $12.7. Despite the lower than expected results, KYNDRYL HOLDINGS maintained its positive outlook for the rest of the fiscal year, as it has been making progress on some of its long-term initiatives. The company also noted that it had achieved several important milestones during the quarter, such as the successful launch of a new product line, which should contribute to future success. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Kyndryl Holdings. More…
| Total Revenues | Net Income | Net Margin |
| 16.93k | -1.26k | -6.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Kyndryl Holdings. More…
| Operations | Investing | Financing |
| 504 | -730 | -138 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Kyndryl Holdings. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 10.99k | 9.65k | 5.44 |
Key Ratios Snapshot
Some of the financial key ratios for Kyndryl Holdings are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -5.2% | – | -3.9% |
| FCF Margin | ROE | ROA |
| -1.5% | -31.3% | -3.7% |
Analysis
GoodWhale has conducted an analysis of KYNDRYL HOLDINGS‘ wellbeing, and according to our Star Chart, it has an intermediate health score of 4/10. This score takes into account KYNDRYL HOLDINGS’ cashflows and debt, indicating that it is likely to have the means to pay off debt and fund future operations. KYNDRYL HOLDINGS is classified as a ‘sloth’ company, suggesting that it has achieved revenue or earnings growth slower than the overall economy. Investors may be interested in this type of company due to its potential for value investing opportunities. GoodWhale’s analysis also reveals that KYNDRYL HOLDINGS is strong in liquidity and debt management, but weak in asset management, dividend production, growth, and profitability. These weaknesses should be carefully monitored if KYNDRYL HOLDINGS is to continue to remain healthy and attractive to investors. More…
Peers
Its competitors include Fact Inc, Data3 Ltd, and Beijing Inhand Networks Technology Co Ltd. Kyndryl Holdings Inc has a strong foothold in the industry with its innovative products and services.
– Fact Inc ($OTCPK:FCTI)
Fact Inc is a publicly traded company with a market capitalization of $552.17 million as of 2022. The company has a Return on Equity of 98.84% and is involved in the business of providing information and data to clients in a variety of industries. Fact Inc is headquartered in the United States and its common stock is listed on the Nasdaq Stock Market.
– Data3 Ltd ($ASX:DTL)
Data3 Ltd is an Australian company that provides a range of IT services, including data storage, cloud computing, and security. It has a market cap of 1.09B as of 2022 and a Return on Equity of 47.53%. The company has a strong focus on providing innovative and reliable solutions to its clients. It has a strong reputation in the industry and is well-positioned to continue growing its business.
– Beijing Inhand Networks Technology Co Ltd ($SHSE:688080)
Inhand Networks Technology Co Ltd is a Chinese holding company that owns and operates several businesses in the technology sector. The company has a market cap of 2.09B and a ROE of 8.51%. Inhand Networks Technology Co Ltd’s businesses include telecommunications equipment, semiconductors, and software development. The company’s telecommunications equipment business offers products and services for the Chinese market. The company’s semiconductor business designs, manufactures, and sells integrated circuits (ICs) for use in a variety of electronic devices. The company’s software development business creates and sells software for use in a variety of industries.
Summary
KYNDRYL HOLDINGS reported a quarterly revenue of USD 4193.0 million and a net income of USD -141.0 million for the first quarter of FY2024. Compared to the same quarter the previous year, revenue saw a decrease of 2.2%, while net income dropped by 44.0%. This could be a sign of potential financial difficulty for the company, and investors should do their due diligence before investing in KYNDRYL HOLDINGS. Further analysis of the company’s operating performance, cash flow, and balance sheet can provide more insight into the company’s financial health.
Related Posts
Recent Posts
