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Dec 31, 2023
Kyndryl Q3 2024 Earnings Report
Kyndryl's earnings grew due to strong strategic execution and high demand for IT services.
Key Takeaways
Kyndryl reported revenues of $3.9 billion for the quarter ended December 31, 2023, a 9% year-over-year decline. The company reported a net loss of $12 million, or ($0.05) per diluted share, compared to a net loss of $106 million, or ($0.47) per diluted share, in the prior-year period. Adjusted EBITDA of $615 million increased 6% compared to $580 million in the prior-year period. The company is raising its fiscal 2024 outlook for adjusted pretax income to at least $150 million and raising its fiscal 2024 outlook for adjusted EBITDA margin to at least 14.5%.
Revenues for the quarter totaled $3.9 billion with a net loss of $12 million.
Adjusted EBITDA increased to $615 million.
Adjusted pretax income was $63 million.
The full-year adjusted earnings outlook was raised.
Revenue by Geographic Location
Forward Guidance
Kyndryl is raising its fiscal 2024 outlook for adjusted pretax income to at least $150 million and raising its fiscal 2024 outlook for adjusted EBITDA margin to at least 14.5%. The Company also continues to expect its constant-currency revenue growth to be (6%) to (7%) and for its fiscal 2024 adjusted free cash flow to be positive.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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