Xerox expects second-quarter adjusted earnings of 20 to 22 cents a share, which is higher than the 18-cent-a-share forecast derived from a survey of analysts by Thomson Reuters, as its acquisition of Affiliated Computer Services (ACS) continues to bring in added revenue.
Xerox is also expecting full-year adjusted earnings at the high-end of the company's previous guidance of 75 to 85 cents a share; roughly in line with the consensus forecast of 81 cents a share.
Xerox posted a loss of $42 million, or 4 cents a share, for the first quarter, compared with earnings of $42 million, or 5 cents a share, the year before; this occurs amid one-off items connected to the ACS acquisition and cost-cutting measures.
Excluding one-off items, Xerox's first-quarter earnings were at 18 cents a share, exceeding the consensus forecast of 13 cents a share. Revenue was at $4.7 billion, up 33% including a 3-point currency benefit, above analysts' $4.65 billion estimate.
-- Reported by Andrea Tse in New York
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