Why DXC Technology Is Up More Than 12% Today
Shares of information technology services outfit DXC Technology Company (NYSE: DXC) are 12.7% higher as of 11:33 a.m. ET on Thursday, despite its fourth-quarter earnings miss and a subsequently lowered price target.
For the three-month stretch ending in March, DXC Technology turned $4 billion worth of revenue into earnings of $0.84 per share, down 2.8% (organically) and up 13.5%, respectively, and shy of the sales of $4.1 billion and profits of $0.99 per share analysts were collectively calling for. Guidance for the current quarter and current year also came up short of analyst estimates, prompting Deutsche Bank to lower its price target from $53 per share to $48.
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Source Fool.com
