Xerox Corp. (XRX) Misses Q3 EPS by 24c, Misses on Revenue, Lowers FY22 Guidance
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Xerox Releases Third-Quarter Results
October 25, 2022 6:30 AM EDTImproved revenue trajectory driven by resilience in demand amid a challenging macro environment
Financial Summary
$1.75 billion of revenue, down 0.4 percent year-over-year or up 4.7 percent in constant currency. GAAP (loss) earnings per share (EPS) of $(2.48), down $2.96 year-over-year. GAAP EPS includes an after-tax non-cash goodwill impairment charge of $395 million or $2.54 per share. Adjusted EPS of $0.19, down $0.29 year-over-year. Adjusted operating margin of 3.7 percent, down 50 basis points year-over-year. Operating cash flow use of $8 million, lower by $108 million year-over-year. Free cash flow use of $18 million, lower by $99 million... More