Luxoft Holding reported results for fiscal Q3 2019

Luxoft Holding has announced its results for the fiscal third quarter of 2019, including a small year-over-year decline. BVI company’s performance is very much influenced by the planned acquisition by IT services and solutions provider DXC Technology. However, the US$2 billion acquisition deal is still subject to regulatory approval.

For the three months ended December 31, 2018, Luxoft’s revenue was near the low end of Luxoft’s autumn guidance, which named the range of US$230 million to US$235 million. Luxoft’s net income arrived at US$0.61 per share, down from US$0.89 in the same period last year. Adjusted EBITDA was US$32.6mln – a 18.5% decline as compared to the previous year period.

Top two accounts of Luxoft, UBS and Deutsche Bank, represented 24.9% of total revenue, down 9.5% from the same period last year. Top five accounts of the BVI company made 39% of revenue, down 7% from a year ago, and its top 10 accounts were 50.9% of revenue (down 6.3%).

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