DXC Technology slumps after Q1, FY25 revenue forecasts below estimates

DXC Technology

16/05/2024 22:15

** IT management firm DXC Technology's  DXC.N  shares slump 
20% to $15.8 in extended trading
    ** DXC forecasts both Q1 and FY 2025 revenue below
estimates, as it sees cautious spending by clients due to
macroeconomic uncertainty
    ** Sees Q1 revenue between $3.10 bln and $3.15 bln, below
analysts' average expectations of $3.30 bln - LSEG
    ** Company forecasts full-year revenue in the range of
$12.67 bln-$12.95 bln, also below expectations of $13.19 bln
    ** For Q4, DXC posts a 5.7% fall in revenue to $3.39 bln,
slightly above estimate of $3.37 bln
    ** Stock has fallen 13% YTD

 (Reporting by Juby Babu in Mexico City)
 ((Juby.Babu@thomsonreuters.com;))