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Xerox's (XRX) Q2 Earnings Beat Estimates, Revenues Lag

Zacks Equity Research
·2 min read

Xerox Holdings Corporation XRX reported second-quarter 2020 earnings per share of 15 cents (on an adjusted basis) which beat the Zacks Consensus Estimate by 3 cents. Earnings declined year over year.

How Was the Estimate Revision Trend?

Investors should note that the Zacks Consensus Estimate for Xerox’s second-quarter 2020 earnings declined 52% over the past 30 days.

The company has an impressive earnings history having outperformed the Zacks Consensus Estimate in three of the last four quarters with an average beat of 1.4%.

Xerox Corporation Price

Xerox Corporation Price
Xerox Corporation Price

Xerox Corporation price | Xerox Corporation Quote

Revenues Lower Than Expected

Xerox recorded total revenues of $1,465 million which lagged the Zacks Consensus Estimate of $1,545 million. Revenues compared unfavorably with the year-ago figure.

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Key Stats to Note: The company generated $34 million of cash from continuous operations in the quarter and free cash flow was $15 million.

Zacks Rank: Currently, Xerox has a Zacks Rank #5 (Strong Sell). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.  

Check back later for our full write up on this Xerox earnings report later!

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Zacks Investment Research