DXC Technology revenue drops 11% to $3.57 bn in July-Sept

DXC Technology has reported revenue of $3.57 billion (–11.4 percent) for the second quarter of fiscal year 2023.
DXC Technology segment revenue 2022
DXC Technology posted net income of $28 million, or 0.8 percent of sales for the second quarter of fiscal year 2023, compared to $(187) million, or (4.6) percent of sales, in the prior year quarter.

DXC Technology said Global Business Services (GBS) segment posted 8.5 percent drop in revenue to $1.713 billion.

DXC Technology said Global Business Services (GBS) segment generated revenue of $524 million from Analytics & Engineering, $825 million from Applications and $363 million from Insurance Software & BPS.

GBS segment profit was $218 million and segment profit margin was 12.7 percent, down 320 bps compared to prior year period, due mainly to investments in workforce and the costs related to the exit of business in Russia. GBS bookings for the quarter were $1.7 billion for a book-to-bill of 0.96x, and 1.18x on a trailing twelve months basis.

DXC Technology said Global Infrastructure Services (GIS) segment posted 14 percent decrease in revenue to $1.853 billion.

DXC Technology said Global Infrastructure Services (GIS) segment has generated revenue of $108 million from Security, $1.309 billion from Cloud Infrastructure & ITO and $436 million from Modern Workplace.

GIS segment profit was $114 million with a segment profit margin of 6.2 percent, a 70 bps margin expansion as compared to second quarter of fiscal year 2022. GIS bookings were $1.3 billion in the quarter for a book-to-bill of 0.71x, and 0.91x on a trailing twelve months basis.