Kyndryl’s stock rallies more than 15% after IBM spinoff forecasts pretax profit this year
Kyndryl Holdings Inc. shares rallied in the extended session Tuesday after the managed infrastructure-service company posted a surprise break-even quarter and forecast pretax profit this year.
The... Kyndryl Holdings Inc. shares rallied in the extended session Tuesday after the managed infrastructure-service company posted a surprise break-even quarter and forecast pretax profit this year. The company — which spun off from International Business Machines Corp. IBM and began trading on Nov. 4 — reported a fiscal first-quarter loss of $141 million, or 62 cents a share, compared with a loss of $250 million, or $1.11 a share, in the year-ago period.
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