TECH - Xerox's Challenging Q4: Stock Drops On Earnings Dip CEO Emphasizes On Simplifying Business Structure | Benzinga
Xerox Holdings Corp (NASDAQ: XRX) reported a fiscal fourth-quarter 2023 sales decline of 9.1% year-on-year to $1.77 billion, missing the consensus of $1.79 billion.
Revenues declined 10.6% at constant currency. Adjusted EPS of $0.43 missed the analyst consensus of $0.52.
Equipment sales decreased by 17.3%, while post-sale revenue declined by 5.8%.
Gross margin declined 130 basis points Y/Y to 33.5%. The equipment margin increased by 80 bps to 32.4%. Post-sale margin declined by 210 ...