Kyndryl Revenue Declines Amid Shift to AI and Cloud Services

Kyndryl reported its first-quarter earnings, revealing revenue of $3.6 billion, down 3% from the same period last year on both a reported and constant-currency basis.

The company maintained its full-year outlook as it pursues growth in consulting, hyperscaler partnerships, and AI-led modernization services.

Kyndryl's Chairman and Chief Executive Officer Martin Schroeter said customers are increasingly seeking help with AI deployment, modernization of hybrid technology estates, cybersecurity, and data-residency requirements.

The company has expanded its AWS alliance to support enterprise adoption of agentic AI and broadened work with Microsoft Azure around cloud architectures and operational requirements.