Xerox Holdings Corp Expects FY24 Revenue Decline of 5%-6% (Prior 3%-5%) in Constant Currency Vs $6.45B Est
Portfolio Pulse from Benzinga Newsdesk
Xerox Holdings Corp has revised its FY24 revenue guidance, now expecting a decline of 5%-6% in constant currency, compared to the previous estimate of 3%-5%. The company also lowered its adjusted operating margin guidance to at least 6.5% and free cash flow guidance to at least $550 million. These adjustments reflect reductions in non-strategic revenue and higher-than-expected costs.
July 25, 2024 | 10:34 am
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Xerox Holdings Corp has revised its FY24 revenue guidance, now expecting a decline of 5%-6% in constant currency, compared to the previous estimate of 3%-5%. The company also lowered its adjusted operating margin guidance to at least 6.5% and free cash flow guidance to at least $550 million. These adjustments reflect reductions in non-strategic revenue and higher-than-expected costs.
The downward revision in revenue, operating margin, and free cash flow guidance indicates potential financial challenges for Xerox. This is likely to negatively impact investor sentiment and the stock price in the short term.
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