Why Kyndryl Stock Soared This Week

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.

Source Fool.com