Kyndryl Hldgs Inc (KD) said after close Tuesday that it lost $0.62 per share in quarter two 2024.
On the revenue line, the company reported $4.1 billion, beating estimates by $93 million.
In the same quarter a year ago, the company lost $1.24 per share on revenue of $4.2 billion.
The stock is up 12.98% to $17.54 after the report.
The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.
Wall Street Analysts had an average rating of Buy on the stock prior to the report.
Trading in the five days leading up to the report earned Kyndryl Hldgs Inc a Bullish Sentiment Rank from InvestorsObserver.
Kyndryl Hldgs Inc has been a strong performer over the past few months, garnering a high Long-Term Technical Rank by InvestorsObserver of 94, putting Kyndryl Hldgs Inc in the top 25% of stocks. The firm was recently trading at a 52-week high of $17.32 on September 11, 2023 and set a 52-week low on November 9, 2022 at $8.79.
Kyndryl Holdings Inc is a technology services and infrastructure services provider company. It provides advisory, implementation, and managed services across a range of technology domains to help customers manage and modernize enterprise IT environments in support of their business and transformation objectives.
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Kyndryl Hldgs Inc Up 12.98% To $17.54 After Earnings Beat
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