DXC Technology revenue drops 11.3% to $14.43 bn

DXC Technology said it is targeting revenue of $3.54 billion – $3.58 billion in the first quarter of fiscal 2023-24 against $3.70 billion in Q1 fiscal 2022-23.
DXC Technology IT servicesDXC Technology said it is targeting revenue of $14.4 billion – $14.55 billion in the fiscal 2023-24 against $14.43 billion in fiscal 2022-23.

DXC Technology reported revenue of $3.591 billion (–10.4 percent) and net loss of $758 million for the fourth quarter of fiscal year 2023.

For the fiscal year 2023, DXC Technology posted revenue of $14.43 billion (–11.3 percent) and net loss of $566 million.

DXC Technology has generated revenue of $6.96 billion (–8.4 percent) from Global Business Services (GBS) and $7.47 billion (–7.7 percent) from Global Infrastructure Services (GIS)

“The clear execution on our transformation journey by our talented team has delivered a better culture, stronger customers relationships, an improved sales model, revenue stability, expanded margins, free cash flow, and a solid investment grade credit profile, while returning $1 billion back to our shareholders,” said Mike Salvino, Chairman, President, and CEO of DXC.

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