Key Highlights

  • DXC Technology posted Revenue of $3,034 million, down 4.0% organically, while Insurance rose 23.1%.
  • Ingram Micro recorded net sales up 20.8% to $15.22 billion, with Advanced Solutions climbing 40%.
  • Grid Dynamics delivered revenue up 9.7% to $114.3 million and a 40.3% gross margin.
  • Rimini Street generated revenue up 8% to $112.1 million and annualized Recurring Revenue of $421 million.
  • Forrester reported revenue of $86.1 million, lower than $94.3 million, and lifted the low end of its adjusted EPS guidance.

Which IT Services Firms Expanded Revenue in Their Latest Quarter?

Results were mixed. Ingram Micro (NYSE:INGM) recorded third quarter 2026 net sales of $15.22 billion, up 20.8%. Grid Dynamics (NASDAQ:GDYN) posted revenue of $114.3 million, up 9.7%, and Rimini Street (NASDAQ:RMNI) posted $112.1 million, up 8%.

DXC Technology (NYSE:DXC) reported fiscal 2027 second quarter revenue of $3,034 million, down 4.0% on an organic basis, while Forrester (NASDAQ:FORR) reported $86.1 million, down from $94.3 million. The periods ended between September 26, 2026 and September 30, 2026, and the five companies address distinct niches, spanning managed infrastructure, distribution, engineering and research. Each section below relies on figures from the company's own reported results, and the comparison section adds several calculated ratios.

DXC Technology: What Lifts Insurance 23.1% as Infrastructure Drops 10.0%?

DXC reported Insurance Software and Services revenue of $394 million, up 23.1%, a figure the company said includes a favorable contract modification. Global Infrastructure Services revenue came in at $1,427 million, down 10.0%, and Consulting and Engineering Services reached $1,213 million, down 3.3% organically.

Diluted EPS came in at $0.15 versus $0.20, and adjusted diluted EPS at $0.67 versus $0.84, with acquired intangible amortization of $0.36 per share and restructuring of $0.10. First-half free Cash Flow reached $405 million, including $214 million of litigation proceeds, and total Debt dropped to $3,059 million from $3,552 million at March 31, 2026. Selling, general and administrative expense declined to $319 million, or 10.5% of revenue, and book-to-bill was 0.80x. Cash and cash equivalents stood at $1,599 million at September 30, 2026.

Ingram Micro: How Did Sales Climb 20.8% While Cash Use Hit $1.26 Billion?

Ingram Micro reported Net Income of $131.1 million, or $0.57 per diluted share, versus $0.42. Advanced Solutions grew 40%, propelled by networking, servers and GPU and AI infrastructure products, and North America climbed 31.5% to $5.82 billion.

Gross Margin eased 35 basis points to 6.55% because of that product mix. Over thirty-nine weeks, Operating Activities consumed $1,259.7 million of cash as inventory and receivables expanded, and total debt increased to $3.90 billion from $3.20 billion. The company announced a $0.088 Dividend on October 29, 2026. Income from operations reached $293.8 million, or 1.93% of sales, compared with $223.5 million, or 1.77%, and the effective tax rate dropped to 29.9% from 33.9%. Cash and cash equivalents were $1.00 billion at quarter end.

Grid Dynamics: How Did Gross Margin Reach 40.3% With a Smaller Team?

Grid Dynamics reported gross margin of 40.3%, compared with 33.3%, while cost of revenues fell 1.8% to $68.2 million. Personnel totaled 4,559, down from 4,971, a drop of about 8.3% on a calculated basis.

Technology, Media and Telecom revenue increased 29.3% to $37.0 million, while Finance and CPG and Manufacturing held flat. Net income was $6.2 million, or $0.08 per diluted share, and non-GAAP EPS was $0.18 versus $0.09. The top five customers accounted for 45.4% of revenue, up from 40.1%, and the largest customer represented 17.9%. Cash and cash equivalents totaled $304.3 million with no revolver debt outstanding, and Retail revenue rose 13.3% to $31.1 million.

Rimini Street: Can Growth Continue as PeopleSoft Support Is Phased Out?

Rimini Street reported net income of $6.5 million, or $0.07 per diluted share, compared with $2.8 million. Annualized recurring revenue reached $421 million, up from $391 million, and revenue retention was 90%.

Under a July 2025 settlement, the company must finish winding down PeopleSoft support by July 31, 2028. Those products accounted for roughly 3% of nine-month revenue, versus about 6% previously. The term Loan declined to $41.7 million from $67.2 million at year-end, and cash and cash equivalents stood at $93.3 million. Gross Profit reached $68.8 million compared with $61.9 million, and the company bought back 1.0 million shares for $5.0 million during the quarter.

Forrester: Why Is the Guidance Floor Higher as Contract Value Dips 3.5%?

Forrester reported a GAAP net loss of $4.4 million, or $0.23 per share, against adjusted net income of $4.7 million, or $0.24 per share. Income tax expense of $6.9 million on pre-tax income of $2.5 million produced the GAAP outcome.

Contract value stood at $281.9 million, down 3.5%, while client retention rose to 78% from 74%. Consulting revenue dropped to $14.7 million from $21.5 million, and headcount decreased to 1,337 from 1,485. Wallet retention climbed to 89% from 86%, and cash, cash equivalents and marketable investments totaled $117.6 million against $30.0 million of debt outstanding. Research revenue was $70.1 million versus $72.7 million.

How Do the Five Companies Differ in Scale and Net Margin?

Ingram Micro's net sales of $15,220 million are roughly 5.0 times DXC Technology's revenue of $3,034 million (calculated). That scale comes with slim profitability, as its net income of $131.1 million equals about 0.9% of net sales (calculated).

DXC Technology's net income of $13 million equals about 0.4% of revenue (calculated). Grid Dynamics earned about 5.4% (calculated) and Rimini Street about 5.8% (calculated). Forrester's GAAP net loss of $4.4 million works out to about negative 5.1% of revenue (calculated).

Grid Dynamics and Rimini Street post higher net margins than the two largest names, and their growth rates of 9.7% and 8% fall between Ingram Micro's 20.8% and the declines at DXC Technology and Forrester. Forrester is the only company of the five with a GAAP net loss, although its adjusted EPS was positive at $0.24.

What to Watch Next: Payout Dates, Outlook and Support Deadlines

Ingram Micro's $0.088 dividend is payable on November 23, 2026 to shareholders of record on November 9, 2026, and $53.0 million is still available under its $100 million repurchase program.

Forrester expects full-year 2026 revenue of about $350.0 million to $360.0 million and adjusted EPS of about $0.77 to $0.82, with the low end raised. DXC Technology's filing offered no forward outlook, and its book-to-bill was 0.80x.

Rimini Street's next scheduled term loan principal payment falls on April 30, 2029, and the PeopleSoft support wind down deadline is July 31, 2028. Grid Dynamics has used $35.5 million of a $50.0 million repurchase program.