Xerox Shares Slip After Reporting Mixed Third-Quarter Results

Shares of Xerox are slipped in Wednesday's trading session after the company reported mixed third-quarter results. Xerox reported earnings of $0.27 a share on $5.1 billion in revenue, which was down 2 percent from last year. Earnings beat the Thomson Reuters consensus estimate by a penny, but fell short of the $5.19 billion revenue estimate. The company also raised its full-year 2014 adjusted earnings per share guidance by two cents at the low end of the range to $1.11 to $1.13. J.P. Morgan analyst Tien-tsin Huang said the increase likely stemmed from better-than-expected day-trading margins, which more than offset key services margins that came in below expectations. Huang has a Neutral rating on the stock.