Xerox Corp. Earnings Cheat Sheet: Rise in Profit

S&P 500 (NYSE:SPY) component Xerox Corporation (NYSE:XRX) reported its results for the third quarter. Xerox engages in the development, manufacturing, marketing, services and finance of document equipment, software, solutions and services worldwide.

Investing Insights: Amazon.com has a Stock Chart Technical Analysts Dream About.

Xerox Earnings Cheat Sheet for the Third Quarter

Results: Net income for Xerox Corporation rose to $320 million (22 cents per share) vs. $250 million (17 cents per share) in the same quarter a year earlier. This marks a rise of 28% from the year earlier quarter.

Revenue: Rose 6% to $5.58 billion from the year earlier quarter.

Actual vs. Wall St. Expectations: XRX reported adjusted net income of 26 cents per share. By that measure, the company beat the mean estimate of 25 cents per share. Analysts were expecting revenue of $5.6 billion.

Quoting Management: We delivered steady revenue growth this quarter along with earnings and cash in line with our expectations,” said Ursula Burns, Xerox chairman and chief executive officer. “Our consistent performance positions us well to grow full-year adjusted EPS by 15 to 18 percent, reflecting our global strengths in business process and document management and the efficiencies we’re driving across our enterprise.”

Key Stats:

The company has now topped analyst estimates for the last four quarters. It beat the mark by 3 cents in the second quarter, by one cent in the first quarter, and by one cent in the fourth quarter of the last fiscal year.

Revenue has risen the past four quarters. Revenue increased 2% to $5.45 billion in the second quarter. The figure rose 16.6% in the first quarter from the year earlier and climbed 43.8% in the fourth quarter of the last fiscal year from the year-ago quarter.

Looking Forward: Over the past ninety days, the average estimate for the fourth quarter has fallen from 35 cents per share to 32 cents, indicating that analysts are growing pessisimistic about the company’s performance next quarter. At $1.08 per share, the average estimate for the fiscal year has fallen from $1.09 ninety days ago.

Competitors to Watch: Canon Inc. (NYSE:CAJ), Pitney Bowes (NYSE:PBI), Staples (NASDAQ:SPLS), Office Depot (NYSE:ODP), OfficeMax (NYSE:OMX), Dell (NASDAQ:DELL), FedEx (NYSE:FDX), IBM (NYSE:IBM), Canon Inc. (NYSE:CAJ), Pitney Bowes Inc. (NYSE:PBI), Chyron Corporation (NASDAQ:CHYR), X-Rite, Incorporated (NASDAQ:XRIT), Hewlett-Packard Company (NYSE:HPQ), and Eastman Kodak Company (NYSE:EK).

Investing Insights: Amazon.com has a Stock Chart Technical Analysts Dream About.

(Source: Xignite Financials)

 

More from The Cheat Sheet