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Xerox Holdings Corporation Down 5.60% To $16.51 After Earnings Beat

Thursday, January 26, 2023 12:20 PM | InvestorsObserver Analysts

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Xerox Holdings Corporation Down 5.60% To $16.51 After Earnings Beat

Thursday, January 26, 2023 - Xerox Holdings Corporation (XRX) reported upside earnings and revenues today.

Xerox Holdings Corporation's earnings came in at an EPS of $0.89 per share, 82.00% higher than estimates for an EPS of $0.49 per share. The firm's earnings are up 162% since reporting $0.34 per share in the same period a year ago. Remember, earnings reported were on an adjusted basis, so they may not be comparable to prior reports and/or analyst estimates.

Revenues were upbeat at $1.9 billion. That is an increase of 9.23% in revenues from the year-ago report and is 2.70% higher than consensus estimates set at $1.9 billion.

The stock is down 5.60% to $16.51 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

Wall Street Analysts had an average rating of Strong Sell on the stock prior to the report.

InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.

Xerox Holdings Corporation has performed a little above average during the past few months. Before the report, Xerox Holdings Corporation received a Long-Term Technical Rank by InvestorsObserver of 61, putting it in the top half of stocks. The firm set a 52-week low on October 25, 2022 at $11.8 and set a 52-week high on February 16, 2022 at $23.25.

Xerox is an original equipment manufacturing and software company. Xerox operates in one segment--design, development, and sale of printing technology and related solutions--while deriving 60% of its revenue from the U.S. and 40% from international markets. The company is an OEM of multifunction printers, or MFPs (printers that can print, copy, and scan), focusing on large enterprise markets. Apart from equipment, the company provides post-sales services like managed print services--a service that helps to bring smart servicing and efficiencies to how employers use their print/copy equipment. Xerox is attempting to enter new markets like digital print packaging solutions and printed electronics.

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