Kyndryl Q3 revenue $4.3B, net loss $106M; raises FY revenue outlook

Kyndryl Holdings, Inc.

2023-Q3 EPS reported -$2.81 revenue$12,771,000,000

Revenue $4.3B, down 6% YoY but up 3% constant currency; net loss $106M ($0.47/diluted), improved from $731M loss a year ago.
Adjusted pretax loss of $4M; adjusted EBITDA $580M, down from $679M pro forma, hurt by ~$125M in currency headwinds.
Cloud hyperscaler signings total ~$750M in 9 months, on track for $1B target; 31,900 hyperscaler certifications (+98% YoY).
Raised FY 2023 revenue outlook to $16.8-17.0B; reaffirmed adjusted EBITDA margin of 11-12% and adjusted pretax margin of (2%)-(1%).
Operating cash flow $769M and adjusted free cash flow $407M in the 9 months; continued progress on 3-A initiatives.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Kyndryl Holdings, Inc. reported third fiscal quarter ended December 31, 2022 results: revenue $4.3 billion, net income $106 million loss, EPS $0.47 per diluted share loss. Guidance reaffirmed.

Period: third fiscal quarter ended December 31, 2022
Revenue: $4.3 billion
Net income: $106 million loss
EPS: $0.47 per diluted share loss
Guidance: reaffirmed
Result: reported results

Exact text from the filing

For the third quarter, Kyndryl reported revenues of $4.3 billion, a year-over-year decline of 6% and a 3% increase in constant currency. Compared to prior-year pro forma revenues, revenues declined 6% and increased 2% in constant currency. The Company reported a pretax loss of $138 million and a net loss of $106 million , or $0.47 per diluted share, in the quarter, compared to a net loss of $731 million in the prior-year period.

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Source: SEC EDGAR

accession 0001558370-23-000981

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