• News
  • SAN DIEGO
  • Finance

Xerox 2Q profit drops 1.8 percent

NORWALK, Conn. (AP) -- Document management company Xerox Corp. (XRX) on Friday reported profit that declined by 1.8 percent in its second quarter, and beat analysts' expectations.

The Norwalk, Connecticut-based company said net income dropped to $266 million, or 22 cents per share, from $271 million, or 21 cents per share, in the same quarter a year earlier.

Earnings, adjusted for amortization costs and to account for discontinued operations, were 27 cents per share. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 26 cents per share.

The business services provider and copier company said revenue decreased 1.8 percent to $5.29 billion from $5.4 billion in the same quarter a year earlier.

Xerox shares have climbed 67 cents, or 5.5 percent, to $12.84 since the beginning of the year, while the Standard & Poor's 500 index has risen 7.6 percent. The stock has increased $3.04, or 31 percent, in the last 12 months.

Leave Your Comment

Comments are moderated by SDDT, in accordance with the SDDT Comment Policy, and may not appear on this commentary until they have been reviewed and deemed appropriate for posting. Also, due to the volume of comments we receive, not all comments will be posted.

SDDT Comment Policy: SDDT encourages you to add a comment to this discussion. You may not post any unlawful, threatening, defamatory, obscene, pornographic or other material that would violate the law. All comments should be relevant to the topic and remain respectful of other authors and commenters. You are solely responsible for your own comments, the consequences of posting those comments, and the consequences of any reliance by you on the comments of others. By submitting your comment, you hereby give SDDT the right, but not the obligation, to post, air, edit, exhibit, telecast, cablecast, webcast, re-use, publish, reproduce, use, license, print, distribute or otherwise use your comment(s) and accompanying personal identifying and other information you provide via all forms of media now known or hereafter devised, worldwide, in perpetuity. SDDT Privacy Statement.

User Response
0 UserComments

Leave Your Comment

Comments are moderated by SDDT, in accordance with the SDDT Comment Policy, and may not appear on this commentary until they have been reviewed and deemed appropriate for posting. Also, due to the volume of comments we receive, not all comments will be posted.

SDDT Comment Policy: SDDT encourages you to add a comment to this discussion. You may not post any unlawful, threatening, defamatory, obscene, pornographic or other material that would violate the law. All comments should be relevant to the topic and remain respectful of other authors and commenters. You are solely responsible for your own comments, the consequences of posting those comments, and the consequences of any reliance by you on the comments of others. By submitting your comment, you hereby give SDDT the right, but not the obligation, to post, air, edit, exhibit, telecast, cablecast, webcast, re-use, publish, reproduce, use, license, print, distribute or otherwise use your comment(s) and accompanying personal identifying and other information you provide via all forms of media now known or hereafter devised, worldwide, in perpetuity. SDDT Privacy Statement.

Subscribe Today!