Xerox shares dropped 14.5% as Q1 earnings missed expectations, reporting $0.06 per diluted share, revenue declined 12.4% to $1.50 billion.
Xerox shares plunged 14.5% after missing Q1 earnings expectations, reporting adjusted earnings of $0.06 per diluted share compared to Wall Street's projected $0.35 per share. Revenue declined 12.4% year-over-year to $1.50 billion, missing the consensus estimate of $1.53 billion. Xerox management held its full-year guidance steady, despite undergoing significant changes, such as a 15% headcount cut and debt refinancing.
April 23, 2024
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