John Visentin , CEO of Xerox

Covid-19 has hit Xerox wirh second-quarter sales at Xerox fell by nearly $800m. Sales in the three months to 30 June were down 35.3% at $1.47 billion of revenue, a decrease of 35.3 percent year-over-year.   Operating profits slumped by nearly 78% to $62m. Gross margin held up, slipping from 39.1% to 38.5%.

Having a rough year with failed bid for HP and partnership with Fujifilm coming apart

“I am proud of our employees who did what was necessary during this unprecedented disruption to support our business and clients, especially those delivering essential services. While the bulk of our markets were fully or partially shut down during the quarter, our team’s financial discipline enabled us to deliver positive earnings  and  cash  flow  while  continuing  to  invest  in  key  areas  of  growth,”  said  Xerox  Vice  Chairman and CEO John Visentin.