DXC Technology Company (DXC)

DXC Technology reported first-quarter fiscal 2027 revenue of $3.00 billion on July 30, 2026, down 5.1% from a year earlier 2. Revenue fell 6.7% on an organic basis, which restates the year at last year's exchange rates and leaves out deals 2. Adjusted EBIT, the company's own profit measure that sets aside one-time items, was $150 million, a margin of 5.0% 2.

Free cash flow, cash from operations less spending on equipment and software, was $314 million against $97 million a year earlier 2. It includes $214 million collected on a court judgment against Tata Consultancy Services, after the U.S. Supreme Court denied that company's appeal in June 2026 12. The company said results were in line with its expectations and it is maintaining full-year guidance 2.

Two questions are open 14. A U.S. Tax Court decision on a 2013 capital loss is pending, and the IRS seeks about $511 million on that issue 1. Paul Taylor joins as President on August 10, 2026, after the head of infrastructure services resigned 4.

DXC was formed on April 1, 2017, by the merger of Computer Sciences Corporation (CSC) and the enterprise services business of Hewlett Packard Enterprise 8. Revenue for the year ended March 31, 2017 was $7.6 billion, and the jump the next year was driven by that merger 7.

On May 31, 2018, DXC separated its U.S. public sector business and combined it with two other firms to form Perspecta 8. Revenue in fiscal 2019 was $20.8 billion, down 4.5% from $21.7 billion, because traditional application maintenance and legacy infrastructure services kept declining 8.

DXC bought Luxoft, a software engineering firm, on June 14, 2019, and Michael Salvino became chief executive in September 2019 9. Revenue fell 5.7% to $19.6 billion in fiscal 2020 on price cuts and lost accounts, partly offset by Luxoft 9. The company also recorded $6.8 billion of non-cash goodwill impairment charges, a write-down of what it had paid for past deals 9.

In fiscal 2021 DXC completed the sale of its U.S. state and local health and human services business to Veritas Capital, forming Gainwell Technologies, for an enterprise value of $5.0 billion 10. Revenue fell 9.4% to $17.7 billion on project terminations and that disposal 10. The board also suspended the dividend from the first quarter of fiscal 2021 3.

Fiscal 2022 revenue fell to $16.3 billion after the sale of the healthcare provider software business 1112. Fiscal 2023 revenue was $14.4 billion, down 11.3%, mostly from a 6.0% currency effect, a 2.6% drop from disposals and a 2.7% organic decline 12. In fiscal 2023 DXC also sold its FDB business for a pre-tax gain of $215 million 12.

Raul Fernandez, a director since 2020, became interim chief executive on December 18, 2023, and chief executive on February 1, 2024 13. Revenue in fiscal 2024 was $13.7 billion, down 5.3%, with a 4.1% organic decline 13.

On April 1, 2025, DXC began reporting three segments: Consulting and Engineering Services, Global Infrastructure Services and Insurance Software and Services 3. Fiscal 2026 revenue was $12.64 billion, down 1.8%, and net income attributable to common stockholders was $18 million against $389 million a year earlier 3. A lawsuit DXC filed in April 2019 against Tata Consultancy Services ended with a $194 million award plus costs 1.

Consulting and Engineering Services

This segment is software engineering, consulting and custom applications work, with strength in finance, automotive, manufacturing, healthcare, life sciences, travel and the public sector 3. Fiscal 2026 revenue was $5,023 million, down 0.8%, and segment profit was $518 million, a margin of 10.3% 3. In the first quarter of fiscal 2027 revenue was $1,231 million, down 1.2% 2.

Global Infrastructure Services

The largest segment runs data center, mainframe, cloud and network systems for clients, plus business process work such as finance, HR and customer service 3. Fiscal 2026 revenue was $6,342 million, down 3.9%, with a segment margin of 6.8% 3. In the first quarter of fiscal 2027 revenue fell 9.4% and segment profit fell 60.8% to $38 million 2.

Insurance Software and Services

This segment provides software and services for life and wealth, property and casualty, and reinsurance providers 3. Fiscal 2026 revenue was $1,279 million, up 5.4%, about 10.1% of the total, with a segment margin of 10.1% 3. First-quarter fiscal 2027 revenue rose 1.9% to $319 million 2.

People, rivals and places

DXC has about 115,000 employees in 60 countries 3. Raul Fernandez is chief executive, Rob Del Bene is chief financial officer, and David Herzog is chairman of the board 36.

The filing names large multinationals, smaller specialists, offshore providers in India and clients' own in-house teams as rivals, but no companies 3. DXC owns or leases offices and data centers in about 320 locations covering 9.4 million square feet, and plans to exit most of its own data centers 3.

Court cases and tax disputes

DXC is contesting IRS tax claims in the U.S. Tax Court, and the filing puts the total cash tax exposure at about $655 million 3. A decision on the largest issue is pending after post-trial briefing ended in April 2026 3.

The umbrella, in words

DXC sells under one name through three segments, with Fast Track and Core Track as the filing's labels for its new and existing offerings 3. Exhibit 21 lists its subsidiaries by country, including Luxoft Holding Inc. in the British Virgin Islands, not all of them operating businesses 14.

No single customer exceeded 10% of revenue in fiscal 2026 3. The proxy lists BlackRock as owning 14.22% of the shares, Vanguard Portfolio Management 8.11%, Dimensional 6.21%, American Century 5.60%, Glenview 5.49% and Vanguard Capital Management 5.48% 6.

All executive officers and directors as a group own 1.13% 6. These are reported holdings of each owner, not stakes DXC owns in others, and none of the sources read shows DXC owning a stake in another listed company 6.

For the full fiscal year 2027 the company expects revenue of $12.10 billion to $12.35 billion, a decline of 5.0% to 3.0% on an organic basis 2. It expects adjusted EBIT margin of 6.0% to 7.0% and non-GAAP earnings per share of $2.40 to $2.90 2.

It expects free cash flow of about $685 million, up from about $600 million before, which the release ties to litigation matters 2. For the second quarter it expects revenue of $2.97 billion to $3.00 billion and adjusted EBIT margin near 6.0% 2.

DXC held an Investor Day on June 11, 2026, and posted its presentation on its investor relations website 5. It said it will keep building AI-enabled platforms through its Fast Track approach, in the words of chief executive Raul Fernandez 2.

The company does not intend to reinstate its quarterly dividend, and about $342 million of its share repurchase authorization remained at March 31, 2026 3.

The U.S. Tax Court decisions on the 2013 capital loss and the 2010 and 2011 currency losses remain pending, and the company expects resolution of the earliest tax years no earlier than fiscal 2027 3.