Xerox Corp. (XRX) Misses Q1 EPS by 8c, Revs Beat; Affirms Guidance

Xerox Corp. (NYSE: XRX) reported Q1 EPS of $0.22, $0.08 worse than the analyst estimate of $0.30. Revenue for the quarter came in at $1.7 billion versus the consensus estimate of $1.59 billion.

“In the first quarter, in an environment where many offices remained closed, we grew equipment sales and IT Services revenue year-over-year. I am proud of how our employees have continued to deliver for our customers during the pandemic. We made progress toward standing up XFS, Xerox Software and PARC Innovation as separate businesses, which we now expect to complete in calendar year 2021,” said Xerox Vice Chairman and CEO John Visentin. “With small and medium-sized business and enterprise clients planning to return more employees to the office, our differentiated offerings are well-positioned to serve their growing needs. The strength of our performance, portfolio and strategy gives us confidence we will return Xerox to growth in 2021.”

GUIDANCE:

Affirms guidance.

For earnings history and earnings-related data on Xerox Corp. (XRX) click here.

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