Reported about 5 hours ago
Kyndryl Holdings experienced a slight revenue decline of about 1% in the second quarter, totaling $3.72 billion, as the company works to renegotiate and reduce unprofitable contracts inherited from IBM. While the restructuring aims to enhance profit margins, it has come at the expense of revenue growth. Despite this, Kyndryl reported a net income of $68 million, a significant improvement from last year's loss. The company remains optimistic about future revenue growth, particularly in its consulting segment and cloud-related services.
Source: YAHOO