Xerox Sees Growth in Document Technology

Xerox reported a 3% drop in overall revenue in the third quarter of 2016 (3Q2016), while the margin of the document technology division remains promising.

The results showed the total revenue in 3Q2016 was US$4.2 billion, which reduced 3% year-on-year (YOY) or 4% on an adjusted constant currency basis (adjusted CC). The revenue of the Document Technology segment reached US$1.6 billion. Compared to the same period last year, the revenue has fallen 9% (7% adjusted CC). However, the margin is maintained at 13.1%, which decreased 0.8% YOY with a sequential growth of 0.5%. Xerox believes the results indicate the continued productivity gains and the cost savings from the firm’s strategic transformation program.

In terms of its services segment, the revenue declined 1% or 2% adjusted CC. Meanwhile, the productivity and costs savings from the company’s Business Process Outsourcing segment have boosted a YOY margin growth of 1.6% (9.4% adjusted CC).

“In an important period for Xerox when our separation-related activities ramped up significantly, we delivered solid financial results despite challenging market conditions,” said Ursula Burns, Xerox’s Chairman and CEO. “This reflects our commitment to executing on all aspects of our ambitious agenda, including our strategic transformation and achieving our 2016 financial objectives.”

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