Xerox Corp. (NYSE:XRX) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are up 1.73%.
Xerox Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 3.85% to $0.27 in the quarter versus EPS of $0.26 in the year-earlier quarter.
Revenue: Decreased 2.51% to $5.4 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Xerox Corp. reported adjusted EPS income of $0.27 per share. By that measure, the company beat the mean analyst estimate of $0.24. It missed the average revenue estimate of $5.5 billion.
Quoting Management: “Through the breadth of our outsourcing services and innovative technology, today’s Xerox simplifies the way work gets done for organizations around the world,” said Ursula Burns, Xerox chairman and chief executive officer. “Our clients are increasingly expanding their partnerships with us to improve the effectiveness of their operations. As a result, the total contract value of services signings was up 40 percent in the second quarter, our pipeline grew 10 percent and our BPO and ITO contract renewal rate was 95 percent strong indicators of a sound strategy that fuels the success of our business for the long term.”
Key Stats (on next page)…