Why DXC Technology Shares Are Diving Today
Portfolio Pulse from Lekha Gupta
DXC Technology Co's shares fell by around 20% after it reported worse-than-expected Q1 FY24 results and issued a below-consensus outlook. The company reported a 7.0% Y/Y revenue decline to $3.45 billion, missing the consensus of $3.56 billion. The company also reported a decline in adjusted EBIT and EPS. DXC completed a share repurchase worth $280 million in Q1 FY24 and expects to complete a share repurchase worth $1 billion in FY24.
August 04, 2023 | 12:46 pm
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NEGATIVE IMPACT
DXC Technology's shares fell significantly due to worse-than-expected Q1 FY24 results and a below-consensus outlook.
The company's worse-than-expected Q1 FY24 results and below-consensus outlook have negatively impacted investor sentiment, leading to a significant drop in the company's share price.
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