Item 7.01. Regulation FD Disclosure.
Exhibit 99.1 of this Form 8-K contains the prepared remarks for
Reconciliations of non-GAAP financial measures discussed in the earnings
presentation to the most directly comparable financial measures calculated and
presented in accordance with GAAP are included as Exhibit 99.2 of this Form 8-K.
The slides used in Messrs. Krishna and Kavanaugh's third-quarter 2020 earnings
presentation are Exhibit 99.3 to the company's Form 8-K submitted to the
The information in this Item 7.01, including the corresponding Exhibits 99.1 and
99.2, is being furnished with the Commission and shall not be deemed "filed" for
purposes of Section 18 of the Securities Exchange Act of 1934, and includes the
following information from the question and answer period of the earnings
presentation and comments from senior management at the WSJ Tech Live conference
on
· The company expects the dollar increase of revenue from third-quarter to
fourth-quarter 2020 to be in line with historical averages.
The company expects the percentage increase of operating (non-GAAP) earnings
· per share from third-quarter to fourth-quarter 2020 to be consistent with or
slightly ahead of the historical average over the past few years, before the$2.3 billion dollar fourth-quarter charge for structural actions. The company expects to deliver sustainable mid-single digit revenue growth in the medium term, which is after completion of the separation of its managed
· infrastructure services business. The company expects to show milestones,
including improving revenue growth by the middle of 2021 as it progesses toward mid-single digit growth. For example, the Global Business Services segment is expected to return to pre-COVID revenue growth rates by mid-year 2021.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
The following exhibits are being furnished as part of this report:
Exhibit No. Description of Exhibit 99.1 Prepared Remarks of Earnings Presentation onOctober 19, 2020 99.2 Non-GAAP Supplemental Materials
The following exhibit is being filed as part of this report:
Exhibit No. Description of Exhibit 104 Cover Page Interactive Data File - the cover page interactive data file does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document
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