Why Kyndryl Holdings Stock Is Higher Today
Portfolio Pulse from Erica Kollmann
Kyndryl Holdings, Inc. (NYSE:KD) shares are trading higher after the company raised its fiscal 2024 earnings outlook. The company reported Q1 2024 revenues of $4.2 billion and a net loss of $141 million. However, it raised its fiscal 2024 adjusted EBITDA margin outlook to 14%, up from 12-13%, and expects positive adjusted free cash flow and at least $100 million in adjusted pretax income for fiscal 2024.
August 08, 2023 | 3:30 pm
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Kyndryl Holdings raised its fiscal 2024 earnings outlook, leading to a rise in its stock price. The company expects positive adjusted free cash flow and at least $100 million in adjusted pretax income for fiscal 2024.
Kyndryl Holdings has raised its fiscal 2024 earnings outlook, which is a positive signal to investors. This has led to increased trading volume and a rise in the company's stock price. The company's expectation of positive adjusted free cash flow and at least $100 million in adjusted pretax income for fiscal 2024 further strengthens investor confidence.
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