News Formal

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%

Österreich Nachrichten Nachrichten

Österreich Neuesten Nachrichten,Österreich Schlagzeilen

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.”

Wir haben diese Nachrichten zusammengefasst, damit Sie sie schnell lesen können. Wenn Sie sich für die Nachrichten interessieren, können Sie den vollständigen Text hier lesen. Weiterlesen:

 /  🏆 3. in AT
 

Vielen Dank für Ihren Kommentar.Ihr Kommentar wird nach Prüfung veröffentlicht.

Österreich Neuesten Nachrichten, Österreich Schlagzeilen

Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.

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
Herkunft: Investingcom - 🏆 450. / 53 Weiterlesen »

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

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

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.
Herkunft: wwd - 🏆 24. / 68 Weiterlesen »

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