DXC Technology Reports Fourth Quarter and Fiscal Year 2021 Results – Business Wire

TYSONS, Va.--(BUSINESS WIRE)--DXC Technology (NYSE: DXC) today reported results for the fourth quarter and fiscal year 2021.

I am pleased to report a solid fourth quarter as the leadership team continues to execute on our transformation journey. Our results clearly indicate that we are winning in the marketplace, which in turn is driving improved sequential revenue and adjusted EBIT margin performance, said Mike Salvino, DXC president and chief executive officer. I would like to thank the entire DXC team for their continued strong execution. Our FY22 and longer-term expectations reflect continuing solid business momentum and our confidence that we are building a people and customer focused organization that will compete and win in the IT services industry. Mr. Salvino continued, As the world is witnessing the ongoing impact of COVID-19, our focus continues to be on our people, particularly in the more severely impacted areas including India and the Philippines. The dedication and perseverance on display by our team is a source of the great pride I have as our people continue to take care of themselves, each other, their families, and deliver for our customers.

Financial Highlights(1)

Q1 FY21

Q2 FY21

Q3 FY21

Q4 FY21

FY21

Revenue

$4,502

$4,554

$4,288

$4,385

$17,729

YoY Reported Revenue Growth

(7.9)%

(6.1)%

(14.6)%

(8.9)%

(9.4)%

YoY Organic Revenue Growth (2)

(11.0)%

(9.8)%

(10.5)%

(7.0)%

(9.6)%

Sequential Revenue Growth

(6.5)%

1.2 %

(5.8)%

2.3 %

N/A

Sequential Organic Revenue Growth (2)

(6.8)%

(2.4)%

1.7 %

0.4 %

N/A

Net Income

$(199)

$(246)

$1,103

$(804)

$(146)

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DXC Technology Reports Fourth Quarter and Fiscal Year 2021 Results - Business Wire