Xerox Q2 Revenue Declines 10%, Cuts Annual Outlook, But CEO Anticipates Turnaround
Portfolio Pulse from Anusuya Lahiri
Xerox Holdings Corp (NASDAQ: XRX) reported a 10% decline in Q2 revenue, missing analyst estimates. The company also cut its annual outlook. Despite the negative results, the CEO anticipates a turnaround in the second half of the year. The stock dropped 8.15% following the news.

July 25, 2024 | 1:35 pm
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Xerox reported a 10% decline in Q2 revenue, missing analyst estimates. The company also cut its annual outlook. Despite the negative results, the CEO anticipates a turnaround in the second half of the year. The stock dropped 8.15% following the news.
The significant decline in revenue and the miss on analyst estimates are likely to negatively impact the stock in the short term. The cut in the annual outlook further adds to the negative sentiment. However, the CEO's optimistic outlook for the second half of the year may provide some support.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100