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Xerox (XRX) Beats Q2 Earnings, Reiterates 2016 Outlook
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With operations in more than 180 countries, Xerox Corporation (XRX - Free Report) is a leader in the development, manufacture, marketing, servicing and financing of document equipment globally. Headquartered in Norwalk, CT, this century-old firm has helped organizations transform the way they manage their business processes and information.
XRX has beaten earnings estimates in two of the last four quarters, making for an average positive surprise of 2.68%. 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 #3 (Hold), but that could definitely change following its second-quarter 2016 earnings report which was just released.
We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: XRX beats on earnings. The Zacks Consensus Estimate called for EPS of 25 cents per share, and the company reported adjusted EPS of 30 cents per share.
Revenue: Revenues beat. XRX posted revenues of $4,385 million, compared to Zacks Consensus Estimate of $4,377 million.
Key Stats to Note: XRX remains on track to split into two separate standalone companies by the year end. The company maintained its guidance for 2016. XRX is implementing a three-year strategic transformation program for productivity gains and cost reductions across its businesses and is on track to realize approximately $700 million in annualized savings in 2016.
Stock Price: Shares prices remained flat in pre-market trading following the earnings beat at the time of writing.
Check back later for our full write up on this XRX earnings report later!
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Xerox (XRX) Beats Q2 Earnings, Reiterates 2016 Outlook
With operations in more than 180 countries, Xerox Corporation (XRX - Free Report) is a leader in the development, manufacture, marketing, servicing and financing of document equipment globally. Headquartered in Norwalk, CT, this century-old firm has helped organizations transform the way they manage their business processes and information.
XRX has beaten earnings estimates in two of the last four quarters, making for an average positive surprise of 2.68%. 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 #3 (Hold), but that could definitely change following its second-quarter 2016 earnings report which was just released.
We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: XRX beats on earnings. The Zacks Consensus Estimate called for EPS of 25 cents per share, and the company reported adjusted EPS of 30 cents per share.
XEROX CORP Price and EPS Surprise
XEROX CORP Price and EPS Surprise | XEROX CORP Quote
Revenue: Revenues beat. XRX posted revenues of $4,385 million, compared to Zacks Consensus Estimate of $4,377 million.
Key Stats to Note: XRX remains on track to split into two separate standalone companies by the year end. The company maintained its guidance for 2016. XRX is implementing a three-year strategic transformation program for productivity gains and cost reductions across its businesses and is on track to realize approximately $700 million in annualized savings in 2016.
Stock Price: Shares prices remained flat in pre-market trading following the earnings beat at the time of writing.
Check back later for our full write up on this XRX earnings report later!
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free report >>