XRX - Why Xerox Stock Fell 14.5% on Tuesday Morning
2024-04-23 12:41:14 ET
Shares of Xerox (NASDAQ: XRX) fell hard on Tuesday morning after a disappointing earnings report. The specialist in printing and digital document management solutions had recovered somewhat to a 10.6% price drop by 11 a.m. ET today, but it's still a hard hit.
There's a lot to unpack in this report, but let's start with the basic financial figures.
Your average Wall Street analyst expected adjusted first-quarter earnings of roughly $0.35 per diluted share on top-line sales near $1.53 billion. Instead, earnings stopped at $0.06 per diluted share, and revenue landed at $1.5 billion.
For further details see:
Why Xerox Stock Fell 14.5% on Tuesday Morning