Luxoft reported lower quarterly revenue and earnings


Luxoft, software and IT solutions developer, following the results of the third quarter, which ended in December, reported about the decline in financial performance. During the earnings period, revenue fell by 2.6% in annual terms to $230 million 400 thousand. Net profit fell to 10 billion 800 million dollars from a similar figure of the previous year to 20 billion 600 million dollars. Adjusted profit amounted to 32 million 600 thousand dollars, a decrease of 18.6%. The EBITDA margin of 14.1% also turned out to be significantly lower than the previous year's figure of 16.9%. Earlier it was reported about the conclusion of the deal for the purchase of Luxoft by DXC Technology for approximately $2 billion. The transaction is expected to be completed in June 2019.

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