Global Infrastructure Services ("GIS")(1) |
|
Q3 FY23 |
|
Q3 FY22 |
||||
Revenue |
|
$ |
1,828 |
|
|
$ |
2,143 |
|
YoY Revenue Growth |
|
|
(14.7 |
)% |
|
|
(9.5 |
)% |
YoY Organic Revenue Growth(2) |
|
|
(7.4 |
)% |
|
|
(8.3 |
)% |
|
|
|
|
|
||||
Segment Profit |
|
$ |
123 |
|
|
$ |
102 |
|
Segment Profit Margin |
|
|
6.7 |
% |
|
|
4.8 |
% |
|
|
|
|
|
||||
Book-to-Bill (TTM) |
|
0.97x |
|
1.01x |
||||
Book-to-Bill |
|
1.46x |
|
1.18x |
||||
(1) In millions, except numbers presented as percentages and ratios |
||||||||
(2) Reconciliation of GAAP to Non-GAAP measures provided in Non-GAAP Results. |
||||||||
GIS segment revenue was $1,828 million in the third quarter of fiscal year 2023, down 14.7% compared to the prior year period, and down 7.4% on an organic basis. GIS segment revenue performance was driven by lower Modern Workplace and Cloud Infrastructure & ITO revenues. GIS segment profit was $123 million with a segment profit margin of 6.7%, a 190 bps margin expansion as compared to third quarter of fiscal year 2022, as a result of our cost optimization program, asset sales, and a favorable commercial settlement. GIS bookings were $2.7 billion in the quarter for a book-to-bill of 1.46x, and 0.97x on a trailing twelve months basis.
Offering Highlights
The results for our six offerings are as follows:
Offerings Revenues(1) |
|
Q3 FY23 |
|
Q2 FY23 |
|
Q1 FY23 |
|
Q4 FY22 |
|
Q3 FY22 |
|||||
| Analytics and Engineering |
|
$ |
535 |
|
$ |
524 |
|
$ |
503 |
|
$ |
529 |
|
$ |
506 |
| Applications |
|
|
832 |
|
|
825 |
|
|
882 |
|
|
904 |
|
|
969 |
| Insurance Software & BPS |
|
|
371 |
|
|
363 |
|
|
368 |
|
|
385 |
|
|
383 |
| Security |
|
|
112 |
|
|
108 |
|
|
105 |
|
|
120 |
|
|
116 |
| Cloud Infrastructure & ITO |
|
|
1,283 |
|
|
1,309 |
|
|
1,395 |
|
|
1,479 |
|
|
1,460 |
| Modern Workplace |
|
|
433 |
|
|
436 |
|
|
448 |
|
|
507 |
|
|
555 |
| Subtotal |
|
|
3,566 |
|
|
3,565 |
|
|
3,701 |
|
|
3,924 |
|
|
3,989 |
| M&A and Divestitures |
|
|
|
|
|
|
|
|
|
|
|||||
| Revenues |
|
|
— |
|
|
1 |
|
|
6 |
|
|
84 |
|
|
100 |
| Total Revenues |
|
$ |
3,566 |
|
$ |
3,566 |
|
$ |
3,707 |
|
$ |
4,008 |
|
$ |
4,089 |
| (1) In millions |
|||||||||||||||
