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 thrice in the last four quarters, making for an average positive surprise of 8.77%. 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 third-quarter 2016 earnings report which was just released.
We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: XRX reported in-line earnings. Our consensus called for EPS of 27 cents per share, and the company reported adjusted EPS of 27 cents per share.
Revenues: Revenues missed. XRX posted revenues of $4,212 million, compared to our consensus estimate of $4,315 million.
Key Stats: Xerox continued its progress toward the planned separation and remains on track to complete it by year end. During the quarter, Services segment revenue was flat, while Document Technology revenue was down 9% from the prior year. The company reaffirms it 2016 guidance.
Stock Price: Shares prices fell in pre-market trading following the earnings release at the time of writing.
Check back later for our full write up on this XRX earnings report later!
Confidential from Zacks
Beyond this Tale of the Tape, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand.Click to see them now>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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 thrice in the last four quarters, making for an average positive surprise of 8.77%. 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 third-quarter 2016 earnings report which was just released.
We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: XRX reported in-line earnings. Our consensus called for EPS of 27 cents per share, and the company reported adjusted EPS of 27 cents per share.
Revenues: Revenues missed. XRX posted revenues of $4,212 million, compared to our consensus estimate of $4,315 million.
Key Stats: Xerox continued its progress toward the planned separation and remains on track to complete it by year end. During the quarter, Services segment revenue was flat, while Document Technology revenue was down 9% from the prior year. The company reaffirms it 2016 guidance.
Stock Price: Shares prices fell in pre-market trading following the earnings release at the time of writing.
Check back later for our full write up on this XRX earnings report later!
Confidential from Zacks
Beyond this Tale of the Tape, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand.Click to see them now>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Get the latest research report on XRX - FREE