Thread regarding DXC Technology layoffs

I was able to catch some of the 2nd quarter earnings call and read some of the transcript but when they starting talking about non-GAAP I know what you mean about comparing "apples to oranges"

For those that don't know what non-GAAP is, this from Business Insider...

"Some stock market pundits are highly critical of companies that repeatedly emphasize "adjusted" (also known as non-GAAP or pro forma) earnings over GAAP earnings.

GAAP is short for generally accepted accounting principles. GAAP accounting standards offer uniformity in how companies report their financial performance. However, income statements reported based on GAAP don't always reflect the ongoing performance of a companies underlying operations. For example, a company may write-down an asset or restructure its organization. These actions usually come with large one-time costs that distort company profits. As such, a company will also provide an "adjusted" earnings number that excludes these nonrecurring items."

So in my mind we really don't know how financially healthy (or not) DXC really is because Mike and Paul will attempt to distract from the GAAP numbers. The falling sales and non-renewals is an indicator that all is not well in DXC land.

@Riy7BHk-zlz

Here's your CSC quarterly earnings checklist (ES types, listen up, this is how it rolls)

In the week before the figures are out, RIFs. Immediate RIFs.

This is then followed by the figures which will talk about an amazing rise in EPS.

The analyst call will then struggle to not ask about how revenue is down 10% year on year whilst Mikey and Paulie distract heavily by trying to demonstrate how we should really be comparing apples to oranges and not apples to apples.

The highlighted best performing areas of the business will not be the same ones as 12 weeks previously, as won't be the direction. Amazing what a difference 12 weeks make.

Go on, see if my crystal ball isn't wrong.

If you are really bored and have lots of free time, go back and look at the previous quarter's transcript so you can see what to expect and how I am right

I have been attempting to make the earnings call ever since we were bought by CSC, now DXC. After the typically "we made lots of money and the future is so bright we gotta wear shades" money talk. The Q&A with the analysts can provide some "color" (yep that is the word the analyst use use for the details) from the Mikey and Paulie show.

Active listening will provide some good feedback as to what he is expecting to do. Every once in a while he gets comfortable and "slips" some words that indicate how he really feels.

My hunch is the numbers will tell us how far off the one billion in savings we are. That will give us an idea of the cutting that needs to happen this quarter ending in March in order to hit that number. Mikey's email about L2 & L3 positions give an indication that the clevers are out and I suspect the fourth quarter will be a "blood-bath" (a term I have seen on this board and heard in the corner of the lunch room).

Ironically the earnings call is the day before the end of the pay cycle. Typically the day when WFR's are initiated. Just a coincidence, I'm sure.