Xerox Cuts the Bleeding

Susan Hall

As it tries to remake itself into a services vendor, Xerox stemmed its losses somewhat during the second quarter and beat analyst projections, reports Bloomberg.


Net income was $140 million, compared with $215 million, or 24 cents a share, a year earlier, reports Reuters. Profit was down to 16 cents a share, while analysts expected it to fall to 11 cents. Sales fell 18 percent to $3.73 billion.

 

The company said it expects companies' reluctance to spend on office equipment to continue for the rest of the year, offering guidance below analyst projections.



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