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Xerox Corporation (XRX - Free Report) reported second-quarter 2018 earnings per share of 80 cents (on an adjusted basis) which lagged the Zacks Consensus Estimate of 92 cents. Earnings decreased 6 cents year over year.
How Was the Estimate Revision Trend?
Investors should note that the Zacks Consensus Estimate for Xerox’s second-quarter 2018 earnings remained stable at 92 cents per share over the last 60 days.
The company has an impressive earnings history having outperformed the Zacks Consensus Estimate in three of the last four quarters with an average beat of 6%.
Xerox recorded total revenues of $2,510 million which outperformed the Zacks Consensus Estimate of $2,508.3 million. However, revenues compared unfavorably with the year-ago figure of $2,567 million.
Key Stats to Note: Xerox has provided its cash flow guidance for full year. The company expects operating cash flow to be in the range of $900-$1,100 million and free cash flow to be in the range of $750-$950 million in 2018. The company’s board of directors have approved a $1 billion share repurchase program. The company plans to repurchase up to $500 million shares in 2018.
Check back later for our full write up on this Xerox earnings report later!
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce ""the world's first trillionaires,"" but that should still leave plenty of money for regular investors who make the right trades early.
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Xerox (XRX) Misses Q2 Earnings Estimates, Beats Revenues
Xerox Corporation (XRX - Free Report) reported second-quarter 2018 earnings per share of 80 cents (on an adjusted basis) which lagged the Zacks Consensus Estimate of 92 cents. Earnings decreased 6 cents year over year.
How Was the Estimate Revision Trend?
Investors should note that the Zacks Consensus Estimate for Xerox’s second-quarter 2018 earnings remained stable at 92 cents per share over the last 60 days.
The company has an impressive earnings history having outperformed the Zacks Consensus Estimate in three of the last four quarters with an average beat of 6%.
Xerox Corporation Price and EPS Surprise
Xerox Corporation Price and EPS Surprise | Xerox Corporation Quote
Revenues Higher Than Expected
Xerox recorded total revenues of $2,510 million which outperformed the Zacks Consensus Estimate of $2,508.3 million. However, revenues compared unfavorably with the year-ago figure of $2,567 million.
Key Stats to Note: Xerox has provided its cash flow guidance for full year. The company expects operating cash flow to be in the range of $900-$1,100 million and free cash flow to be in the range of $750-$950 million in 2018. The company’s board of directors have approved a $1 billion share repurchase program. The company plans to repurchase up to $500 million shares in 2018.
Zacks Rank: Currently, Xerox has a Zacks Rank #3 (Hold) but that could change following the company’s earnings report which was just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Check back later for our full write up on this Xerox earnings report later!
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce ""the world's first trillionaires,"" but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>