KD - Why Kyndryl Stock Soared This Week
2024-05-10 16:48:00 ET
Kyndryl (NYSE: KD) just signed off on a vigorous week. According to data from S&P Global Market Intelligence , the leading provider of IT infrastructure services saw share prices rise 32.1% from one Friday closing bell to the next, lifted by a promising fourth-quarter earnings report.
In Q4 of fiscal year 2024 , Kyndryl's sales fell 10% year over year to $3.85 billion. The bottom line landed at a net loss of $0.20 per share, up from a $3.24 loss per share in the year-ago period.
Your average Wall Street analyst had expected a loss of roughly $0.22 per share of revenues near $3.76 billion. The company outperformed these expectations across the board.
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Why Kyndryl Stock Soared This Week