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Xerox second-quarter revenues down

July 28, 2020

The OEM has released its second-quarter financial results, recording $1.47 billion (€1.25 billion) of revenue, a decrease of 35.3% year-over-year.

Xerox’s second-quarter revenues showed a decline of 35.3% compared to the same period in the previous fiscal year. The OEM highlighted that during the period it launched “Make Now Work,” an integrated content marketing campaign that demonstrates how Xerox supports clients’ digital transformations and changing needs accelerated by COVID-19.

“I am proud of our employees who did what was necessary during this unprecedented disruption to support our business and clients, especially those delivering essential services. While the bulk of our markets were fully or partially shut down during the quarter, our team’s financial discipline enabled us to deliver positive earnings per share and cash flow while continuing to invest in key areas of growth,” said Xerox Vice Chairman and CEO John Visentin.

“No one can control or accurately predict what happens next. We have modelled numerous scenarios to ensure we have flexibility no matter how the pandemic continues to impact global business.”

During the reporting period, Xerox also expanded the company’s software portfolio with the launch of the Xerox Team Availability App to support flexible workplace needs and introduced the next-generation AltaLink C8100/B8100 series with ConnectKey apps and automation that speeds digital transformation and supports workers in and out of the office.

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