With operations in more than 180 countries, Xerox Corporation (XRX) is a leader in the development, manufacture, marketing, servicing and financing of document equipment globally. Headquartered in Norwalk, Connecticut, this century-old firm has helped organizations transform the way they manage their business processes and information.
XRX has beaten earnings estimates consecutively in the last trailing four quarters, making for an average earnings surprise of 8.95%. However, quite like its peers in the document industry, XRX is increasingly grappling with decreased demand for paper-related systems and products. With rising competition gradually weighing on margins, investors have been eagerly waiting for the company’s latest earnings report.
Currently, XRX has a Zacks Rank #4 (Sell), but that could definitely change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: XRX matched exactly on earnings. Our consensus called for EPS of 21 cents, and the company reported adjusted EPS of 21 cents as well.
Revenue: Revenues missed. XRX posted revenues of $4,469 million, compared to our consensus estimate of $4,511 million.
Key Stats to Note: XRX remains committed to its 5-plank strategy that is centered on portfolio management, operational excellence, global growth, cost transformation, and analytics.
Stock Price: Shares prices fell in pre-market trading following the revenue decline and trimmed 2015 guidance.
Check back our full write up on this XRX earnings report later
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XEROX CORP (XRX): Free Stock Analysis Report
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