Why Kyndryl Stock Was More Than Halved On Monday

It's a rough start to the trading week for Kyndryl (NYSE: KD) investors. As of 2:03 p.m. ET Monday, shares of the technology services outfit are down 54.5% following the release of its disappointing fiscal third-quarter results.It's not its Q3 numbers, however, that are responsible for most of today's sizable setback.Kyndryl turned $3.9 billion worth of revenue into net income of $57 million during the three months ending in December, or an adjusted profit of $0.52 per share. While sales and earnings were up slightly year-over-year, both also fell short of expectations. Worse, the company lowered its revenue guidance for the current fiscal year. It's now anticipating free cash flow of between $325 million and $375 million on revenue that will be between 2% and 3% lower than last year's, versus an expectation for free cash flow of around $550 million just three months earlier, when Kyndryl was looking for a slight uptick in its full-year top line.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool