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Solution Provider Market Cap Q1 2020 Winners And Losers

Amid the stock market turbulence of the first quarter, 22 of the 25 channel companies on our watch list recorded declines in their market capitalizations – many by significant double-digit amounts. Take a look at who were the winners and who were the losers.

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DXC Technologies

CEO: Mike Salvino

Dec. 31, 2019 Market Cap: $9.62

March 31, 2020 Market Cap: $3.31

Change: -65.58 percent

In March DXC Technologies sold its state and local health and human services business to Veritas Capital for $5 billion, part of a broader move to divest or spinoff several non-core businesses. The company plans to use proceeds from the sale to pay down debt.

In February the company reported that revenue in its fiscal 2020 third quarter (ended Dec. 31, 2019) was $5.02 billion, down 3 percent from $5.18 billion in the third quarter of fiscal 2019. The company reported net income of $82 million for the quarter, down more than 82 percent from $462 million one year before.

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