Xerox CEO Sets Direction to Drive Improved Performance; Company to Repurchase Up To $500 Million of Shares in 2018

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Go back to Xerox CEO Sets Direction to Drive Improved Performance; Company to Repurchase Up To $500 Million of Shares in 2018

Xerox Corp. (XRX) Misses Q2 EPS by 3c, Revenues Beat; Announces Up to $500M Share Buyback

July 26, 2018 6:34 AM EDT

Xerox Corp. (NYSE: XRX) reported Q2 EPS of $0.80, $0.03 worse than the analyst estimate of $0.83. Revenue for the quarter came in at $2.51 billion versus the consensus estimate of $2.49 billion.

Second Quarter 2018 Financial Results

Earnings Per Share: GAAP earnings per share (EPS) from continuing operations of 42 cents, down 21 cents compared to the same period in 2017, primarily due to transaction costs of $58 million or 17 cents. Adjusted EPS of 80 cents, a decrease of 6 cents year over year.Total Revenue: $2,510 million, down 2.2 percent year-over-year or 4.0 percent in constant currencyEquipment Sale Revenue: $561 million, up 0.9 percent or down 0.6 percent in... More