Xerox misses profit expectations but beats on revenue, sets $1 billion buyback plan [MarketWatch]
Xerox Holdings Corporation (XRX)
Last xerox holdings corporation earnings: 4/28 06:30 am
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Source: MarketWatch
Xerox misses profit expectations but beats on revenue, sets $1 billion buyback plan Xerox Corp. XRX, -0.12% reported a second-quarter profit that missed expectations, and said it was setting a new direction with return to its roots as a technology company. Net income declined to $112 million, or 42 cents a share, from $166 million, or 63 cents a share, in the same period a year ago. Excluding non-recurring items, adjusted earnings per share of 80 cents, below the FactSet consensus of 83 cents. Revenue fell to $2.51 billion from $2.57 billion, topping the FactSet consensus of $2.49 billion. Chief Executive John Visentin, who has been in the role for two months, said the fact that its business model is underpinned by an annuity cash flow makes it challenging to improve revenue and flow cost savings to the bottom line. Vistentin said the company will take action to improve effectiveness and efficiency of its supply chain and go-to-market channels. Separately, Xerox authorized a $1 bil
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News
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- Xerox Holdings Co. (NYSE: XRX) had its price target lowered by analysts at JPMorgan Chase & Co. from $18.00 to $17.00. They now have an "underweight" rating on the stock.MarketBeat
- After Plunging -16.47% in 4 Weeks, Here's Why the Trend Might Reverse for Xerox (XRX) [Yahoo! Finance]Yahoo! Finance
XRX
Earnings
- 4/23/24 - Miss
XRX
Analyst Actions
- 4/24/24 - JP Morgan
XRX
Sec Filings
- 4/25/24 - Form DEFA14A
- 4/23/24 - Form 8-K
- 4/11/24 - Form DEF
- XRX's page on the SEC website