Despite Challenging Q3 Backdrop, Xerox's CEO Points to Strong Execution, Adjusts FY23 Outlook
Portfolio Pulse from Anusuya Lahiri
Xerox Holdings Corp reported a Q3 FY23 sales decline of 5.7% YoY to $1.65 billion, missing the consensus of $1.71 billion. Adjusted EPS of $0.46 beat the analyst consensus of $0.35. The company adjusted its FY23 outlook, expecting revenue of $7.00 billion, down from the prior $7.10 billion. XRX shares are trading higher by 2.60% at $13.83 premarket.
October 24, 2023 | 1:01 pm
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Xerox reported a sales decline but beat EPS estimates. The company adjusted its FY23 outlook downwards, but shares are trading higher premarket.
Despite a sales decline, Xerox beat EPS estimates, which may have positively influenced investor sentiment. The company's downward adjustment of its FY23 outlook could be a concern, but the immediate market reaction is positive, with shares trading higher premarket.
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