Navigate this market better. Subscribe for FREE stock alerts and information.

Friday, January 24, 2014

Xerox revenue misses Street estimates, (NYSE: XRX)

Xerox Corp, best known as a maker of printers and copiers, reported weaker-than-expected quarterly revenue. Revenue from Xerox's printing business dropped 6 percent to $2.4 billion, while revenue in the company's biggest business, services, remained flat at $3.0 billion.Net income from continuing operations attributable to Xerox slipped to 25 cents per share in the fourth quarter ended Dec. 31, from 26 cents per share a year earlier.Excluding items, the company earned 29 cents per share.Revenue dropped 3.4 percent to $5.57 billion.

Xerox Corporation provides services and technology to enable its customers from small businesses to large global enterprises to focus on their core business. Shares of XRX fell by 2.49% or $-0.3/share to $11.76. In the past year, the shares have traded as low as $7.75 and as high as $12.65. On average, 10955000 shares of XRX exchange hands on a given day and today's volume is recorded at 23444308.