Xerox Corp. (XRX) Misses Q1 EPS by 17c, Revenues Beat; Withdraws FY20 Revenue, EPS, Operating Margin Guidance

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Go back to Xerox Corp. (XRX) Misses Q1 EPS by 17c, Revenues Beat; Withdraws FY20 Revenue, EPS, Operating Margin Guidance

Xerox Releases First-Quarter Results

April 28, 2020 6:30 AM EDT

Financial Results

$173 million of operating cash flow from continuing operations, down $49 million year-over-year, and $150 million of free cash flow, down $57 million year-over-year Adjusted operating margin of 4.7 percent, down 630 basis points year-over-year $1.86 billion of revenue, a decrease of 14.7 percent year-over-year or 13.9 percent in constant currency GAAP loss from continuing operations of $(0.03) per share, down $0.37 year-over-year, and adjusted earnings per share (EPS) of $0.21, down $0.45 year-over-year Withdraws 2020 financial guidance due to economic uncertainty caused by COVID-19

NORWALK, Conn.--(BUSINESS... More