DXC Technology Earnings Beat, Revenue Slides Amid Cost-Cutting
DXC Technology (DXC) said Tuesday that it beat views on fiscal second-quarter earnings, but its sales dropped amid cost-cutting moves.
XAutoplay: On | OffDXC said adjusted earnings were 1.93 a share, up 154% from a year ago, topping estimates. Revenue fell 3% to $6.16 billion, but still beat expectations.
A year earlier, the company earned 76 cents a share on sales of $6.35 billion on a pro forma basis. Analysts expected DXC to report earnings of $1.53 a share on sales of $5.99 billion for the period ended Sept. 30.
Hewlett Packard Enterprise (HPE) in April spun off its enterprise services business, which merged with Computer Sciences to create DXC Technology.
Shares in the computer services behemoth edged up 0.8% to 93.25 in after-hours trading in the stock market today. DXC plans to spin off its U.S. public-sector business in 2018.