Kyndryl reported revenues of $4.2 billion, a year-over-year decline of 9%, or growth of 1% in constant currency. Compared to prior-year pro forma revenues, revenues declined 8%, but increased 2% in constant currency. The company reported a pretax loss of $219 million and a net loss of $281 million, or $1.24 per diluted share, in the quarter, compared to a net loss of $690 million in the prior-year period.
“Our solid execution and enhanced customer engagement drove strong revenue results in the September quarter. Excluding external factors such as currency headwinds and higher energy costs, our adjusted earnings were consistent with our June quarter earnings,” said Kyndryl Chief Financial Officer David Wyshner. “We’re confident we have the right strategy in place, and we’re on track to achieve our medium-term goals, including top-line growth in calendar 2025 and meaningful margin expansion.”
Kyndryl noted that in the first six months of fiscal 2023 itsigned contracts tied to cloud hyperscaler alliances with an aggregate value of more than $425 million, progressing toward its $1 billion hyperscaler signings target for the year. Kyndryl further increased its cloud-related capabilities, with more than 26,000 hyperscaler certifications among its employees at the end of the quarter, a 63% increase since the beginning of the calendar year.
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