Kyndryl Q3 revenue falls 6% to $4.58B, net loss widens to $692M; Microsoft partnership

Kyndryl Holdings, Inc.

2023-Q2 EPS reported -$4.81 revenue$14,102,000,000

GAAP net loss of $692M vs loss of $238M a year ago; adjusted EBITDA margin improved to 15.8% from 14.8%.
Pro forma revenue $4.53B, down 6% constant currency; signings $2.9B vs $4.3B a year ago.
Full-year 2021 guidance reaffirmed: revenue $18.5-18.7B, adj. EBITDA $2.8-2.9B.
Announced landmark global partnership with Microsoft as premier alliance partner.
Spin-off completed Nov 3; KD began trading Nov 4 on NYSE; included in S&P MidCap 400.

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