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DXC Technology Company (DXC-2.70%) has submitted its 10-Q filing for the quarterly period ended December 31, 2024.
The filing includes financial statements for the quarter, showing a decrease in revenues to $3.225 billion from $3.399 billion in the same quarter the previous year. This decline is attributed to a decrease in organic revenue and unfavorable foreign currency exchange rates.
Costs of services decreased to $2.416 billion from $2.636 billion, reflecting cost optimization efforts and lower revenue levels.
Selling, general, and administrative expenses increased to $335 million from $294 million, primarily due to an alignment of business development expenses and increased professional services costs.
Net income for the quarter was $63 million, down from $140 million in the previous year. Net income attributable to DXC common stockholders was $57 million, compared to $156 million in the previous year.
Cash provided by operating activities was $1.083 billion, while cash used in investing and financing activities was $343 million and $257 million, respectively.
DXC had a total liquidity of $4.9 billion as of December 31, 2024, including cash and cash equivalents of $1.7 billion.
The filing also details various financial agreements, including a revolving credit facility extended to November 1, 2029.
DXC does not anticipate cash dividend payments to common stockholders in the near future.
The company continues to focus on cost optimization and strategic initiatives to improve financial performance.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the DXC Technology Company quarterly 10-Q report dated February 5, 2025. To report an error, please email earnings@qz.com.