Friday, July 29, 2016

Xerox Q2 Profit Rises, Revenue Down 4%; Reiterates 2016 Adj. Earnings Guidance

Xerox (XRX) reported second-quarter adjusted EPS of $0.30, a 7 cent increase over the same period last year driven by a lower tax rate, fewer shares, and higher operating profits. On average, 11 analysts polled by Thomson Reuters expected the company to report profit per share of $0.25 for the quarter. Analysts' estimates typically exclude special items. Second-quarter income from continuing operations available to shareholders increased year-over-year to $149 million from $101 million. Earnings per share from continuing operations was $0.15 compared to $0.09.

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