Fri, May 17, 10:06 AM (157 days ago)
DXC Technology Company’s annual report for the fiscal year ending March 31, 2024, highlights several key financial metrics and strategic decisions. The company reported revenues of $13.67 billion, a 5.3% decline from the previous year, with a 4.1% decrease on an organic basis. The net income was $86 million, translating to a diluted earnings per share (EPS) of $0.46, compared to a net loss of $566 million and a diluted EPS of $(2.48) in fiscal 2023. Adjusted diluted EPS was $3.13, down 9.8% from $3.47 in the previous year. Operating cash flow was $1.36 billion, and free cash flow stood at $756 million after capital expenditures of $605 million. The company returned $883 million to shareholders through share repurchases. Costs of services and SG&A expenses saw reductions of $670 million and $131 million, respectively, while restructuring costs decreased by $105 million. The company also reported a net gain of $79 million from the disposition of businesses. DXC's strategic focus includes cost optimization and expanding its service offerings to address emerging technological trends. Future outlooks emphasize continued cost management and strategic investments in growth areas. Potential risks include cybersecurity threats, regulatory changes, and economic fluctuations affecting customer spending.