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
