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

Zacks Equity Research

Xerox Corporation XRX reported second-quarter 2019 earnings per share of 99 cents (on an adjusted basis) which missed the Zacks Consensus Estimate by 6 cents. Earnings increased 19 cents year over year.

How Was the Estimate Revision Trend?

Investors should note that the Zacks Consensus Estimate for Xerox’s second-quarter 2019 earnings remained unchanged at 93 cents per share over the last 30 days.

The company has a decent earnings history having outperformed the Zacks Consensus Estimate in two of the last four quarters with an average beat of 0.7%.

Revenues Lower Than Expected

Xerox recorded total revenues of $2,289 million which lagged the Zacks Consensus Estimate of $2,321 million. Also, revenues compared unfavorably with the year-ago figure of $2,510 million.

Xerox Corporation Price

Xerox Corporation Price

Xerox Corporation price | Xerox Corporation Quote

Key Stats to Note: Operating cash flow of $313 million increased $78 million year over year. Free cash flow of $297 million increased $94 million year over year.

Zacks Rank: Currently, Xerox has a Zacks Rank #3 (Hold) but that could change following the company’s earnings report which was just released. 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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