Xerox Going Up or Down in 2020
—Xerox Sales Fall But Q3 Reveals Turnaround
Xerox Holdings Corp. (Xerox) has reported its profit for the third quarter fell as revenue declined from a year earlier.
According to MarketWatch, the Connecticut-based office-machine company reported a net profit of $90 million, or 41 cents a share, in the three-month period, compared with $222 million, or 96 cents a share, a year earlier.
On an adjusted basis, Xerox earned a profit of 48 cents a share, the company said. Analysts polled by FactSet had expected an adjusted profit of 26 cents a share.
Revenue came in at $1.77 billion, down from the $2.2 billion a year earlier, Xerox said. Analysts had been expecting revenue of $1.6 billion.
The company said hardware sales for the quarter ended in September were $419 million, down 15%, while “post-sale” revenue, including service and consumables, was $1.3 billion, down 20%.
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