DXC Technology stock rises after earnings beat, dividend hike
DXC Technology Co. shares rose nearly 5% in the extended session Thursday after the company beat earnings estimates and raised its dividend. The company reported fiscal fourth-quarter net income of $271 million, or $1.01 a share, compared with $560 million, or $1.93 a share, in the year-ago period. Adjusted for items such as amortization of intangible assets and pension and other benefit actuarial and settlement losses, earnings were $2.19 a share. Revenue fell to $5.28 billion from $5.58 billion in the year-ago period. Analysts surveyed by FactSet had estimated adjusted earnings of $2.09 a share on revenue of $5.31 billion. For the fiscal first quarter, analysts model adjusted earnings of $2.20 a share on sales of $5.14 billion. DXC said that it was also raising its dividend to 21 cents a share. DXC stock has fallen 40% in the past year, with the S&P 500 index rising 4.5%.
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