Kyndryl loses $281m in the quarter as modernization agenda continues

Shapeshifting infrastructure services biz Kyndryl can't plug its revenue leak but cutting costs did cut losses in half. Revenues dropped 8 percent to $4.2 billion for Kyndryl's Q2 of fiscal 2023 ended September 30 – declines were recorded in every territory that it operates. Net loss was $281 million, which might sound rough …

[NoneSuch]

Think of the Money We'll Save...

Investing heavily in the Cloud and losing money. Never heard that one before.

* coff *

The Cloud, making the bottom line look better and better since 2010. Not yours... Microsoft's...

The Cloud, because "Briar Patch" was already copyrighted.

The Cloud, because it's simple for Executives to draw on a white board.

Feel free to add your own...

[EricB123]

Re: Think of the Money We'll Save...

I had a cough the other day and bought a bottle of Kyndryl cough mixture. Stopped the cough instantly. Good stuff.

[GuldenNL]

Re: Think of the Money We'll Save...

And to think that as a cough suppressant, it’s off label use of Kyndryl female incontinence medication. ;)

[ITObserver]

Re: Think of the Money We'll Save...

Kyndryl still struggling with the heavy heritage left by big blue... it takes time for sure as their numbers are huge even declining.

Cloud services business is mainly for hyperscalers to win money, not the resellers.

[trevorde]

What 'modernisation' really means

RAs to get rid of 'dinobabies'