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Xerox releases Q1 financial results

Xerox releases Q1 financial results

April 25, 2019

The OEM has published its consolidated results for Q1 of the current fiscal year, ended March 31, with a mixed picture emerging for the company.

Xerox’s total revenue in Q1 was $2.2 billion (€1.97 billion), down from $2.43 billion (€2.18 billion) in the equivalent period of last year, a 7 percent drop.

There was also a fall for the OEM in its pre-tax income, which dropped from $134 million (€128.4 million) last year to $83 million (€74.5 million) in 2019, a decline of 38 percent.

However, there was brighter news for Xerox in its adjusted operating income, which rose 3 percent, from $242 million (€217.4 million) in Q1 2018 to $249 million (€223.7 million) in Q1 2019.

Xerox also announced $226 million (€203 million) of operating cash flow, up $10 million (€8.98 million) year-on-year, and $211 million (€189.5 million) of free cash flow, up $13 million (€11.6 million) year-on-year.

The company’s CEO, John Visentin, responded buoyantly to the results: “We are investing in our core business as well as new technologies that create value for our stakeholders and position us for long-term growth,” he said.

Categories : City News

Tags : Business Financials Q1 Xerox

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