Blue Bell-based Unisys Corporation reported mostly positive second-quarter 2022 financial results.
“We exceeded consensus estimates on all key metrics for the second quarter, grew revenue on a constant-currency basis, and we grew our ACV and TCV signings and pipeline,” said Unisys Chair and CEO Peter A. Altabef. “Most significantly, we have momentum in our key focus areas within Digital Workplace Solutions and Cloud, Applications & Infrastructure Solutions.”
Revenue in the second quarter exceeded consensus estimates but remained roughly flat year-over-year at $515 million compared with $517.3 million in the same period last year. However, revenue was up 2.8 percent year-over-year in constant currency.
Gross profit was up 4.1 percent year-over-year to $148.1 million compared to $142.2 million in the prior-year period. The gross profit margin was also up 130 bps year-over-year at 28.8 percent compared to 27.5 percent a year prior.
Meanwhile, the company recorded a drop in operating profit from $40.8 million in the prior-year period to $33.7 in the last quarter. This decrease was primarily driven by the company’s increased investments in sales and marketing, which served to boost ACV, TCV, and pipeline growth.
The total company pipeline increased 30 percent year-over-year and one percent sequentially to $6.0 billion.
