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Xerox releases latest financial results

Xerox releases latest financial results

October 23, 2018

The OEM has published its financial report for Q3 of 2018, ended September 30th, with a mixed view for the company.

Compared to the same period of 2017, Xerox saw a fall in sales, which dropped from $981 million (€856 million) to $943 million (€822.8 million), whilst total revenues fell from $2.49 billion (€2.17 billion) to $2.35 billion (€2.05 billion).

Within Xerox’s revenue figures, it also revealed that equipment sales were down, from $531 million (€463.4 million) in Q3 2017 to $511 million (€445.9 million) in Q3 2018.

The firm’s income from continuing operations also fell, from $179 million (€156.2 million) down to $93 million (€81.1 million), and there was a similar fall in net income, tumbling to $93 million (€81.1 million) from $182 million (€158.8 million) in the same period last year.

Despite these results, CEO John Visentin was remaining positive: “We are progressing on our priorities, which include optimising our operations for greater simplicity, reenergising our innovation engine, and focusing on cash flow to drive increasing shareholder returns,” he said.

“Work remains on the priority to drive revenue. Actions are underway to streamline the organisational structure, expand our channel presence, and further differentiate our products and services to provide greater value to customers.”

 

Categories : City News

Tags : Business Financials OEM Q3 USA Xerox

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