Filing Flows › Kyndryl Holdings (KD) › Q2 FY27 › vs Q2 FY26
Kyndryl Holdings (KD) Q2 FY27 vs Q2 FY26 (year over year)
Kyndryl Holdings's revenue fell $70.0M (-2%) from $3.7B in Q2 FY26 to $3.7B in Q2 FY27. The biggest changes: United States +$81.0M (+9%); Principal Markets −$77.0M (-6%); Strategic Markets −$48.0M (-5%). Operating margin 3.1% against 2.6% (+0.4 pts).
Kyndryl Holdings, Q2 FY27: revenue $3.7B (-2% year over year), operating margin 3.1%, net earnings $59.0M, operating cash flow $173M. The chart draws each line against Q2 FY26, the increases inside each band.
Margins
| Q2 FY27 | Q2 FY26 | Change | |
|---|---|---|---|
| Operating margin | 3.1% | 2.6% | +0.4 pts |
| Net margin | 1.6% | 1.8% | -0.2 pts |
Every line
| Line | Q2 FY27 | Q2 FY26 | Change | % |
|---|---|---|---|---|
| Principal Markets | $1.2B | $1.3B | −$77.0M | -6% |
| United States | $980M | $899M | $81.0M | +9% |
| Strategic Markets | $939M | $987M | −$48.0M | -5% |
| Japan | $555M | $581M | −$26.0M | -4% |
| Revenue | $3.7B | $3.7B | −$70.0M | -2% |
| Operating profit | $112M | $98.0M | $14.0M | +14% |
| Costs & expenses | $3.5B | $3.6B | −$84.0M | -2% |
| Pre-tax earnings | $112M | $98.0M | $14.0M | +14% |
| Cost of revenue | $2.8B | $2.9B | −$126M | -4% |
| SG&A | $669M | $659M | $10.0M | +2% |
| Other operating costs | $76.0M | $44.0M | $32.0M | +73% |
| Net earnings | $59.0M | $68.0M | −$9.0M | -13% |
| Income tax | $53.0M | $30.0M | $23.0M | +77% |
| Operating cash sources | $276M | $294M | −$18.0M | -6% |
| Depreciation & amortization | $195M | $200M | −$5.0M | -3% |
| Share-based compensation | $22.0M | $26.0M | −$4.0M | -15% |
| Working capital & other | $103M | $148M | −$45.0M | -30% |
| Operating cash flow | $173M | $146M | $27.0M | +18% |
| Capital expenditures | $214M | $129M | $85.0M | +66% |
| Negative free cash flow (OCF − capex) | $41.0M | −$17.0M | $58.0M | — |
Questions
How much did Kyndryl Holdings's revenue grow year over year in Q2 FY27?
Kyndryl Holdings's revenue fell $70.0M (-2%) from $3.7B in Q2 FY26 to $3.7B in Q2 FY27.
What drove Kyndryl Holdings's revenue change in Q2 FY27?
United States +$81.0M (+9%); Principal Markets −$77.0M (-6%); Strategic Markets −$48.0M (-5%).