TECH - Xerox Loses Steam In Q1 Stock Dips | Benzinga
Xerox Holdings Corp (NASDAQ: XRX) reported a fiscal first-quarter 2024 sales decline of 12.4% year-on-year to $1.50 billion, missing the consensus of $1.53 billion.
Revenues declined 13.2% at constant currency. Adjusted EPS of $0.06 missed the analyst consensus of $0.35. The stock price declined after the print.
Equipment sales decreased by 25.8%, while post-sale revenue declined by 8.5%.
Gross margin declined 480 basis points Y/Y to 29.5%. The equipment margin fell by 550 bps to 31.0%. The post-sale margin decreased by 460 ...