DXC Technology sees Q3 results above estimates on cloud demand, ET CIO Ali Guerra | usagoldmines.com

IT companies firm DXC Technology forecast current-quarter income and revenue above Wall Avenue estimates on Thursday, powered by regular enterprise spending on its cloud-based options amid the AI increase.

DXC projected income within the vary of $3.2 billion and $3.3 billion for the its fiscal third quarter, in contrast with analysts’ common estimate of $3.21 billion, in line with information compiled by LSEG.

Firms have been more and more specializing in bringing AI applied sciences to their operations, driving demand for cloud computing companies that are key to energy AI programs. That has lifted demand for DXC’s cloud infrastructure options.

DXC gives consulting and engineering companies in addition to insurance coverage software program companies as a part of its legacy IT outsourcing enterprise, nevertheless it has been more and more specializing in cloud infrastructure to cater to an AI-driven surge in demand.

It expects an adjusted per-share revenue of 75 cents to 80 cents within the third quarter, whereas analysts estimate earnings of 69 cents per share.

The corporate reported income of $3.24 billion within the second fiscal quarter ended September, down about 6% from a yr earlier, however higher than estimates of $3.20 billion, per information compiled by LSEG.

Its adjusted revenue of 93 cents per share was forward of estimates of 72 cents.

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