Investing.com - Xerox (NYSE:XRX) reported on Tuesday first quarter earnings that missed analysts' forecasts and revenue that fell short of expectations.
Xerox announced earnings per share of $0.21 on revenue of $1.86B. Analysts polled by Investing.com anticipated EPS of $0.49 on revenue of $2.08B. That with comparison to EPS of $0.91 on revenue of $2.21B in the same period a year before. Xerox had reported EPS of $1.33 on revenue of $2.44B in the previous quarter. Analysts are expecting EPS of $0.58 and revenue of $2B in the upcoming quarter.
Xerox shares are down 51% from the beginning of the year , still down 54.85% from its 52 week high of $39.47 set on November 19, 2019. They are under-performing the S&P 500 which is down 11.29% year to date.
Xerox follows other major Technology sector earnings this month
Xerox's report follows an earnings matched by Taiwan Semiconductor on Saturday, who reported EPS of $0.75 on revenue of $10.35B, compared to forecasts EPS of $0.75 on revenue of $10.32B.
Intel had beat expectations on Thursday with first quarter EPS of $1.45 on revenue of $19.83B, compared to forecast for EPS of $1.28 on revenue of $18.67B.
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