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Xerox revenue falls on lower printer sales

Published 10/22/2014, 07:55 AM
© Reuters A generic picture of a Xerox logo on a photocopier.
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(Reuters) - Xerox Inc (N:XRX) reported a 2 percent fall in quarterly revenue, hurt by slowing demand in its printing business.

Revenue from the printing business fell 6 percent to $2.02 billion in the third quarter ended Sept. 30, from a year earlier.

Net income attributable to Xerox fell to $266 million from $286 million.

On a per-share basis, earnings remained unchanged at 22 cents, below the average analyst estimate of 26 cents.

Revenue fell to $5.12 billion from $5.24 billion.

Analysts on average had expected revenue of $5.19 billion, according to Thomson Reuters I/B/E/S.

Xerox, which has been diversifying away from its printers and copiers, also forecast adjusted earnings of 30-32 cents per share for the current quarter ending Dec. 31.

Analysts on average were expecting a profit of 31 cents per share.

© Reuters. A generic picture of a Xerox logo on a photocopier.

The company's shares were down about 1 percent at $13.06 in premarket trading.

(Reporting By Sai Sachin R and Supantha Mukherjee in Bangalore; Editing by Maju Samuel)

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