Filing Flows › Kyndryl Holdings (KD) › Q2 FY26
Kyndryl Holdings (KD) Q2 FY26 earnings results (second quarter fiscal 2026)
10-Q filed Nov 5, 2025
Kyndryl Holdings (KD) reported revenue of $3.7B for the second quarter fiscal 2026 (Q2 FY26), -1% from a year earlier and -0.6% from the quarter before. Operating margin was 2.6%, net earnings $68.0M (1.8% of revenue).
Kyndryl Holdings, Q2 FY26: revenue $3.7B (-1% year over year), operating margin 2.6%, net earnings $68.0M, operating cash flow $146M. The chart follows the revenue to costs, profit and cash.
| Q2 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.7B | -0.6% | -1% |
| Operating profit | $98.0M | +7% | — |
| Net earnings | $68.0M | +21% | — |
| Operating cash flow | $146M | — | -2% |
| Free cash flow | $17.0M | — | +13% |
What changed
Revenue was $3.7B in Q2 FY26, down 1% year over year and down 1% from the previous quarter. Principal Markets was the largest line at 36% of revenue. United States lost $0.06B year over year (down 6%), 115% of the total change.
Operating profit was $0.10B, a 2.6% margin (up 2.8 points year over year). Total costs fell 4% while revenue fell 1%. Net earnings were $0.07B. The effective tax rate was 30.6%.
Operating cash flow was $0.15B (down 2% year over year), 215% of net earnings. Non-cash charges added back $0.20B of depreciation and amortization and $0.03B of share-based compensation. Working capital and other items used $0.15B. Capital expenditures of $0.13B left free cash flow of $0.02B.
Questions
What was Kyndryl Holdings' revenue in the second quarter fiscal 2026?
Kyndryl Holdings (KD) reported revenue of $3.7B for the second quarter fiscal 2026 (Q2 FY26), -1% from a year earlier and -0.6% from the quarter before.
Was Kyndryl Holdings profitable in the second quarter fiscal 2026?
Operating profit was $98.0M (2.6% of revenue) and net earnings $68.0M.
Source: Kyndryl Holdings 10-Q on SEC EDGAR.