With operations in more than 180 countries, Xerox CorporationXRX 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 two of the last four quarters, making for an average surprise of 2.55%. 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 Beat on earnings. Our consensus called for EPS of 22 cents per share, and the company reported EPS of 24 cents per share.
Revenue : Revenues Missed. XRX posted revenues of $4,333 million, compared to our consensus estimate of $4,540 million.
Key Stats to Note : Xerox continues to focus on strengthening its offering portfolio, improving productivity and targeting its highest-margin segments. Xerox expects fourth-quarter 2015 GAAP earnings in the range of 23 cents - 25 cents per share and adjusted EPS in the range of 28 cents - 30 cents.
Stock Price : Shares prices remained flat in pre-market trading following the earnings beat at the time of writing.
Check back our full write up on this XRX earnings report later.
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