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Third quarter results from Fujitsu showed a “gradual recovery in demand” at the global level, but the worldwide chip shortage continues to impact the business. The latter is leading to both postponed revenue and higher costs.
Revenue for the quarter came in at 880.5bn Yen, down 1% from the comparable period in the prior year. For the year to date (i.e., the nine months to the end of December 2021), revenue was +0.7% to 2543.5bn Yen. For the full financial year (FY21), the firm is forecasting growth of 1.1% to 3630bn Yen.
The business continued its strategic growth investments in two areas in particular. Firstly, the expansion of its Global Delivery Centres and developing services that are standardised around the world. Secondly, in internal digital (DX, as Fujitsu terms it) investments and its Work Life Shift for its own employees.
Down at the UK level, Fujitsu has been experiencing significant activity in its private sector IT services business. Renewals were sealed and business with existing customers expanded in industries including Financial Services, Retail & Hospitality, and Manufacturing. This will have been helped by Fujitsu’s investments in innovation through technologies such as AI and its digital annealer. MORE….
Posted by Kate Hanaghan at '10:00' - Tagged: results hybridIT quantum trust
