DXC Technology Company (NYSE:DXC) closed nearly 16% higher on Thursday despite the company’s reported Q4 results, with EPS of $0.84 coming in worse than the Street estimate of $0.99, mainly driven by topline softness, costs from exiting Russia, higher operating costs, and a higher than the anticipated tax rate. Revenue was $4.01 billion, missing the Street estimate of $4.12 billion.

The company’s guidance also came in worse than the Street estimates. Q1/23 EPS is expected in the range of $0.80-$0.85, compared to the consensus of $0.94, and revenue in the range of $3.7-3.75 billion, compared to the consensus of $4.03 billion. For the full 2023-year, the company expects EPS of $3.85-$4.15, compared to the consensus of $4.25, and revenue of $14.9-15.05 billion, compared to the consensus of $16.12 billion.

The share price increase, despite the miss, was probably due to investors focusing on the company’s attractive long-term outlook, with the company reiterating its targets for 2024 for 1%-3% organic revenue growth and around $1.5 billion in Free Cash Flow.