DXC Technology Q1 Profit Down

(Correction: The original article headline read: "DXC Technology Company Q1 Profit Increases, but misses estimates" The corrected headline: DXC Technology Q1 Profit Down)

DXC Technology Company (DXC) revealed earnings for first quarter that decreased from the same period last year and missed the Street estimates.

The company's earnings came in at $102 million, or $0.43 per share. This compares with $278 million, or $1.07 per share, in last year's first quarter.

Excluding items, DXC Technology Company reported adjusted earnings of $179 million or $0.75 per share for the period.

Analysts on average had expected the company to earn $0.82 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 10.4% to $3.71 billion from $4.14 billion last year.

DXC Technology Company earnings at a glance (GAAP) :

-Earnings (Q1): $102 Mln. vs. $278 Mln. last year.
-EPS (Q1): $0.43 vs. $1.07 last year.
-Analyst Estimates: $0.82
-Revenue (Q1): $3.71 Bln vs. $4.14 Bln last year.

Next quarter EPS guidance: $0.70 - $0.75
Full year EPS guidance: $3.45 - $3.75

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