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4-Traders Homepage  >  Equities  >  Nyse  >  Xerox Corp    XRX

XEROX CORP (XRX)
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Xerox : profit, sales top estimates on cost cuts

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10/26/2017 | 01:56pm CET
FILE PHOTO: Logo of Xerox company is seen on building in Minsk

Printer and copier maker Xerox Corp reported higher-than-expected quarterly profit and revenue on Thursday, boosted by new product rollouts and cost cuts.

The company's shares were up 1.5 percent in light premarket trading.

Xerox's total costs declined 5.4 percent to $2.3 billion in the third quarter ended Sept. 30.

The company, which spun off its business process outsourcing unit last year and separated into two independent, publicly traded companies, has been beefing up its product offerings in the A4 and A3 paper market to boost sales.

Net income attributable to Xerox fell to $179 million(£135.41 million), or 68 cents per share, in the quarter, from $183 million, or 69 cents per share, a year earlier.

Excluding items, the Norwalk, Connecticut-based company reported earnings of 89 cents per share, beating the average analyst estimate of 83 cents, according to Thomson Reuters I/B/E/S.

Total revenue fell to $2.50 billion from $2.63 billion, however, topping analysts' estimate of $2.48 billion.

(Reporting by Munsif Vengattil in Bengaluru; Editing by Martina D'Couto)

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Financials ($)
Sales 2017 10 165 M
EBIT 2017 1 191 M
Net income 2017 619 M
Debt 2017 4 839 M
Yield 2017 3,34%
P/E ratio 2017 13,42
P/E ratio 2018 13,61
EV / Sales 2017 1,27x
EV / Sales 2018 1,27x
Capitalization 8 096 M
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Number of Analysts 9
Average target price 37,2 $
Spread / Average Target 17%
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Managers
NameTitle
Jeffrey Jacobson Chief Executive Officer & Director
Robert J. Keegan Non-Executive Chairman
Hervé Tessler President-International Operations
William F. Osbourn Chief Financial Officer & Executive Vice President
Steve Hoover Chief Technology Officer
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