Kyndryl Earnings Top Estimates. The Turnaround Is Ahead of Schedule

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 36 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 97%

الإمارات العربية المتحدة أخبار أخبار

الإمارات العربية المتحدة أحدث الأخبار,الإمارات العربية المتحدة عناوين

The IT infrastructure provider, spun out of IBM two years ago, raised its forecast for full-year 2023 adjusted pretax income.

The IT infrastructure provider Kyndryl celebrated the second anniversary of its spinout from IBM with better-than-expected financial results.For the third quarter, Kyndryl posted revenue of $4.1 billion, about $100 million ahead of the consensus call among analysts tracked by FactSet. Adjusted earnings before interest, taxes, depreciation and amortization, or Ebitda, was $574 million, well above the Street consensus of $487 million.

When Kyndryl was spun out of IBM in 2021, the company told investors it would take a few years for it to return to growth and profitability. But in an interview with Barron’s, CEO Martin Schroeter said the company is ahead of where it had expected to be at this point. Kyndryl is raising its forecast for full-year 2023 adjusted pretax income to at least $140 million, from at least $100 million, while boosting its estimate for adjusted Ebitda margin to 14.5% from 14%.

“The reason we have turned around the business much faster than the sell-side or investors thought is that we are critical to our customers’ success in taking advantage of secular trends. We’re their heart and lungs.”

 

شكرًا لك على تعليقك. سيتم نشر تعليقك بعد مراجعته.
لقد قمنا بتلخيص هذا الخبر حتى تتمكن من قراءته بسرعة. إذا كنت مهتمًا بالأخبار، يمكنك قراءة النص الكامل هنا. اقرأ أكثر:

 /  🏆 3. in AE

الإمارات العربية المتحدة أحدث الأخبار, الإمارات العربية المتحدة عناوين

Similar News:يمكنك أيضًا قراءة قصص إخبارية مشابهة لهذه التي قمنا بجمعها من مصادر إخبارية أخرى.

Uber Q3 Earnings: Top-Line Growth, Profitability Could Propel Stock to New HighsStocks Analysis by Investing.com (Damian Nowiszewski) covering: Uber Technologies Inc, LYFT Inc. Read Investing.com (Damian Nowiszewski)'s latest article on Investing.com
مصدر: Investingcom - 🏆 450. / 53 اقرأ أكثر »

Uber notches earnings beat but comes up short on the top lineEmily Bary is a MarketWatch news editor based in New York.
مصدر: MarketWatch - 🏆 3. / 97 اقرأ أكثر »

Brink’s Q3 earnings top estimatesCiara Linnane is MarketWatch's investing- and corporate-news editor. She is based in New York.
مصدر: MarketWatch - 🏆 3. / 97 اقرأ أكثر »

Fashion's Top Takeaways from Tech EarningsBig Tech’s rebound was apparent during earnings. So was a greater push toward AI. Here’s how that’s changing the game for platforms and the brands that rely on them.
مصدر: wwd - 🏆 24. / 68 اقرأ أكثر »

Il Makiage parent Oddity’s third-quarter earnings top estimatesCompany again raises its full-year guidance
مصدر: MarketWatch - 🏆 3. / 97 اقرأ أكثر »