The company reported earnings of 27 cents a share for the second quarter, 1 cent above the Capital IQ Consensus Estimate of 26 cents a share. Revenue fell -2% year-over-year to $5.29 billion for the quarter, compared to analysts' expectations of $5.31 billion.
Looking to the third quarter, Xerox expects EPS of 25 cents to 26 cents a share, in line with analysts' estimates of 26 cents a share. The company revised its full-year EPS guidance to between $1.09 and $1.13 a share from its previous forecast of $1.07 to $1.13. Analysts expect earnings of $1.10 for the full year.
Must read: Warren Buffett's 25 Favorite Stocks
TheStreet Ratings team rates XEROX CORP as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:
"We rate XEROX CORP (XRX) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its solid stock price performance, attractive valuation levels, good cash flow from operations, largely solid financial position with reasonable debt levels by most measures and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income."