said second-quarter profit more than doubled -- as a new generation of products fueled sales -- which promoted it to raise full-year earnings guidance.
The office equipment company earned $208 million, or 21 cents a share, vs. $86 million, or 10 cents a share, in the year ago period. The consensus estimate was for 17 cents a share.
Revenue fell 2% to $3.9 billion from the second quarter of last year, and shy of analysts expectations of $3.98 billion.
The company raised full-year earnings expectations to 80 cents to 84 cents a share, up from earlier expectations of 67 cents to 72 cents a share. Analysts expect 73 cents a share.
"Market demand for new systems and specialized services, as well as a clear focus on providing smart document management for businesses small to large -- all delivered through a flexible cash-generating business model -- resulted in another quarter of earnings that exceeded our expectations," the company said.
With technology investments fueling equipment sales, the company said about two-thirds of all equipment sales in the quarter came from products launched in the past two years.
Shares rose 25 cents, or 1.9%, to $13.56 in premarket trading.