31 July 2024
Xerox Revenue Down 10% For Second Quarter
ROCHESTER, NY—
Xerox will stop making its iGen5 and Nuvera digital presses.
Xerox will stop making its iGen5 and Nuvera digital presses.
 For second quarter, Xerox’s revenue was down by 10% in the period to $1.58bn. Its gross profit was $520m, down 12.9% from $597m in second quarter 2023, while its pre-tax income was $25m, compared to a pre-tax loss of $89m in 2023. It had free cash flow in second quarter of $115m, up $27m year-over-year. Alongside its results for second quarter released yesterday, Xerox said it had also adjusted its operating income guidance to at least 6.5%, and free cash flow guidance to at least $550m.
Xerox pulled out of Drupa 2024
Xerox pulled out of Drupa 2024
Xerox’s share price has dropped by over 8% after it lowered its full-year revenue guidance for 2024 from a decline of 3% to 5% in constant currency to a decline of 5% to 6% in constant currency to “reflect incremental strategic actions”. Xerox’s share price has dropped by over 8% after it lowered its full-year revenue guidance for 2024 from a decline of 3% to 5% in constant currency to a decline of 5% to 6% in constant currency to “reflect incremental strategic actions”. Some investment advisors have rated Xerox as a sell. ""The company is undergoing major restructuring in the face of flat-to-
declining revenues, which is further compounded with the company's pivot to the specialized Digital/IT services markets which CITI believes will require significant time/investments and a potential headwind to their operating income improvement goal," said Citi analyst".  
 
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Mr Beastly says:
was this not installed over a year ago? Saw another press release on it from 2023??
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