Xerox (XRX) Reports Q2: Everything You Need To Know Ahead Of Earnings
Xerox met analysts' revenue expectations last quarter, reporting revenues of $1.46 billion, down 3% year on year. It was a softer quarter for the company, with a significant miss of analysts' EPS estimates.
Is Xerox a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting Xerox's revenue to decline 1.7% year on year to $1.55 billion, improving from the 10% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.07 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings.
Looking at Xerox's peers in the it services & other tech segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Accenture delivered year-on-year revenue growth of 7.7%, beating analysts' expectations by 2.3%, and IBM reported revenues up 7.7%, topping estimates by 2.4%. Accenture traded down 3.6% following the results while IBM was also down 7.7%.
Read our full analysis of Accenture's results here and IBM's results here.
Investors in the it services & other tech segment have had steady hands going into earnings, with share prices up 1.5% on average over the last month. Xerox is up 5.3% during the same time and is heading into earnings with an average analyst price target of $5.25 (compared to the current share price of $5.55).
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