Xerox Reports Sixth-Consecutive Quarterly Drop in Revenue

Xerox is trimming its 2015 outlook for the second time after posting quarterly results and reporting its sixth-consecutive quarterly drop in revenue. Earnings came in at 27 cents a share, a penny below forecasts. Revenue came in at a little more than $5 billion. For the current quarter, Xerox expects its per-share earnings to range from 20 cents to 22 cents. For the full year, Xerox said it now expects profits of $1.00-$1.06 a share, that's down the $1.05-$1.11 it forecast earlier. Xerox shares have declined 2 percent since the beginning of the year, while the Standard & Poor's 500 index has decreased almost 2 percent. The stock has risen 28 percent in the last 12 months.