Pumped up Xerox profits


Xerox more than doubled its profit in Q2 and has raised its full-year earnings expectations.

The firm posted net income of $187 million, or EPS of $0.21, compared to $75 million, or EPS of $0.09, a year earlier. Revenue dipped two per cent to $3.85 billion.

CEO Anne Mulcahy said market demand for new systems and specialised services as well as "a clear focus on providing smart document management for businesses small to large" resulted in the earnings boost.

She added: "This earnings performance and strong demand for Xerox’s new technology and value-added services give us the confidence to raise our full-year earnings expectations to $0.80-$0.84 per share, up from earlier expectations of $0.67-$0.72 per share."

Stamford (CT)