secwatch.observer — SEC 8-K summary
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Issuer:     Kyndryl Holdings, Inc. (KD)
CIK:        0001867072
Form:       8-K
Filed at:   2023-05-16T23:59:59+00:00
Accession:  0001558370-23-010051
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Kyndryl reports Q4 net loss $737M, FY23 revenue $17.0B; guides FY24 margin expansion
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- Q4 revenue $4.3B (-4% YoY, +1% cc); net loss $737M vs $229M loss prior year.
- FY23 revenue $17.0B (-7% YoY, flat cc); net loss $1.4B vs $2.0B loss prior year.
- Exceeded first-year three-A targets: Alliances $1.2B signings, Advanced Delivery $275M savings, Accounts $210M benefits.
- FY24 outlook: rev (6-8)% decline cc to $16.0-16.4B; adj EBITDA margin 12-13% vs 11.6% FY23.
- Workforce rebalancing: $55M charge in Q4, expects $95M more in FY24; savings $150M FY24, $200M FY25.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1867072/000155837023010051/0001558370-23-010051-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1867072/000155837023010051/kd-20230516x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-23-010051

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