KYNDRYL REPORTS THIRD QUARTER FISCAL 2024 RESULTS AND RAISES ITS FULL-YEAR OUTLOOK
NEW YORK, Feb. 6, 2024 /PRNewswire/ -- Kyndryl Holdings, Inc. (NYSE: KD), the world's largest IT infrastructure services provider, today released financial results for the quarter ended December 31, 2023, the third quarter of its 2024 fiscal year.
- Results for the Fiscal Third Quarter Ended December 31, 2023
For the third quarter, Kyndryl reported revenues of $3.9 billion, a year-over-year decline of 9% and 10% in constant currency. - The Company is well on track to achieve its fiscal 2024 year-end goal for annualized savings of $500 million.
- Double-digit growth in Kyndryl Consult – In the quarter, Kyndryl Consult revenues grew 12% year-over-year and 11% in constant currency and were 15% of total revenue.
- Kyndryl is raising its fiscal 2024 outlook for adjusted pretax income to at least $150 million and raising its fiscal 2024 outlook for adjusted EBITDA margin to at least 14.5%.