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Xerox's (XRX) Q4 Earnings Miss Estimates

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Xerox Corporation (XRX - Free Report) reported fourth-quarter 2020 earnings per share of 58 cents (on an adjusted basis) which miss the Zacks Consensus Estimate by 60 cents. Earnings declined 75 cents year over year.

How Was the Estimate Revision Trend?

Investors should note that the Zacks Consensus Estimate for Xerox’s fourth-quarter 2020 earnings increased 5% over the last 30 days.

The company has an impressive earnings history having outperformed the Zacks Consensus Estimate in three of the last four quarters with an average beat of 24.3%.

Xerox Corporation Price

Revenues Higher Than Expected

Xerox recorded total revenues of $1,930 million which surpassed the Zacks Consensus Estimate of $1,894 million. Also, revenues compared unfavorably with the year-ago figure of $2,444 million.

Key Stats to Note: Operating cash flow of $235 million decreased $163 million year over year. Free cash flow of $221 million decreased $160 million year over year.

Zacks Rank: Currently, Xerox has a Zacks Rank #5 (Strong Sell). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.  

Check back later for our full write up on this Xerox earnings report later!

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