Xerox Corporation (NYSE:XRX) reported third-quarter 2019 earnings per share of $1.08 (on an adjusted basis) which beat the Zacks Consensus Estimate by 23 cents. Earnings increased 23 cents year over year.
How Was the Estimate Revision Trend?
Investors should note that the Zacks Consensus Estimate for Xerox’s third-quarter 2019 earnings remained unchanged at 85 cents per share over the last 30 days.
The company has an impressive earnings history having outperformed the Zacks Consensus Estimate in three of the last four quarters with an average beat of 5.5%.
Revenues Lower Than Expected
Xerox recorded total revenues of $2,200 million which lagged the Zacks Consensus Estimate of $2,216 million. Also, revenues compared unfavorably with the year-ago figure of $2,352 million.
Xerox Corporation Price
Key Stats to Note: Operating cash flow of $356 million increased $82 million year over year. Free cash flow of $339 million increased $88 million year over year.
Zacks Rank: Currently, Xerox has a Zacks Rank #3 (Hold) but that could change following the company’s earnings report which was just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Check back later for our full write up on this Xerox earnings report later!
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Xerox Corporation (XRX): Free Stock Analysis Report
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