DXC Technology Analysts Slash Their Forecasts After Downbeat Q1 Results
Portfolio Pulse from Lisa Levin
DXC Technology reported worse-than-expected Q1 results, with a revenue decline of 7.0% Y/Y to $3.45 billion, missing the consensus of $3.56 billion. Adjusted EPS was $0.63, down from $0.75, missing the consensus of $0.82. The company also lowered its FY24 outlook. Following the announcement, DXC shares fell 22.4% in pre-market trading. Analysts from BMO Capital, RBC Capital, and Deutsche Bank downgraded the stock and cut their price targets.
August 04, 2023 | 1:00 pm
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DXC Technology's worse-than-expected Q1 results and lowered FY24 outlook led to a significant drop in its stock price. Analysts from BMO Capital, RBC Capital, and Deutsche Bank downgraded the stock and cut their price targets.
DXC Technology's Q1 results were below expectations, with a significant revenue decline and lower EPS. The company also lowered its FY24 outlook. This negative news led to a sharp drop in the stock price and prompted analysts to downgrade the stock and cut their price targets, indicating a negative short-term impact on the stock.
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