Printing Industry News for Canada | RSS | 

31 July 2024
Xerox Revenue Down 10% For Second Quarter
ROCHESTER, NY—
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’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-
Xerox will stop making its iGen5 and Nuvera digital presses.
|
Xerox pulled out of Drupa 2024
|
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".
Post a Comment
Comments:
NEW ON THE JOB BOARD | RSS
CLICK HERE to post your job opening
LATEST USED EQUIPMENT | RSS
CLICK HERE to list your equipment
![]() |
|
![]() |
|
![]() |
Total Used Equipment Listings: 19
CLASSIFIED | RSS
CLICK HERE to list your business opportunity in the printing industry
Most Recent News Comment
![]() |
|
Mr Beastly says: | |
Most Read Stories
THE PRINT WIRE
Other news from the industry