NORWALK, CONNECTICUT—  Xerox with its stock price experiencing a dramatic sell-off following a disappointing quarterly report and a significantly reduced full-year forecast. The company's shares plummeted over 11% in a single day. On the day of the earnings release, Xerox stock collapsed by 11.43% to $3.04. The bearish sentiment persisted, with shares falling an additional 10% by November 3rd. Xerox reported a quarterly profit of $0.20 per share, which exceeded expectations, was entirely eclipsed by a substantially weakened annual outlook. Management slashed its free cash flow projection from $250 million down to just $150 million. Furthermore, the operating margin forecast was reduced from 4.5% to 3.5%. Compounding these issues are anticipated tariff expenses of $60 to $65 million in 2025. Total revenue showed a 28.3% increase, this growth was entirely driven by acquisitions (Lexmark and ITsavvy). When adjusted for these purchases, the company's organic revenue actually contracted by 8%, highlighting underlying business pressures.