Xerox beats on profit, misses on revenue under Icahn appointees [Reuters]
Xerox Holdings Corporation (XRX)
Last xerox holdings corporation earnings: 4/28 06:30 am
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Source: Reuters
Xerox beats on profit, misses on revenue under Icahn appointees | Reuters 3 Min Read (Reuters) - Xerox Corp fell short on revenue but beat estimates for profit on the back of cost-cutting in its first full quarter under new management backed by activist investors Carl Icahn and Darwin Deason. The U.S. photocopier, facing a long-running decline in its core business, reported net profit had roughly halved and said revenue fell 5.8 percent year-on-year to $2.35 billion in the third quarter ended Sept. 30, below an average analyst estimate of $2.42 billion. Free cash flow for the third quarter, however, rose and the company increased its 2018 share repurchase target to $700 million from $500 million and forecast for full year free cash flow to between $900 million and $1 billion. Xerox, faced with declining demand for office printing equipment as the popularity of smartphones reduced the need to print, agreed in January to a $6.1 billion merger with Fuji Xerox, its 56-year-old joint ventu
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News
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XRX
Earnings
- 4/23/24 - Miss
XRX
Sec Filings
- 4/23/24 - Form 8-K
- 4/11/24 - Form DEF
- 4/4/24 - Form ARS
- XRX's page on the SEC website