Xerox’s Earnings Down for Second Quarter Due to Lower MFP and Printer Sales

xerox squareXerox today reported a 2-percent slip in earnings for its second quarter, due to lower revenues from its MPF-and-printer Document Technology Business.

Net income for the second quarter was  $266 million, versus $271 million for the second quarter a year ago.

Revenue declined to $5.29 billion, versus $5.39 billion for the second quarter a year ago. Revenue from Xerox’s Document Technology Business, which now accounts for about 40 percent of Xerox’s total revenue, fell 6 percent.

Per-share earnings rose to 22 cents versus 21 cents for the second quarter a year ago. Note that per-share earnings for the second quarter a year ago included a two-cent loss tied to discontinued operations.

Xerox’s services business was a bright spot: services, which accounts for about 57 percent of Xerox’s total revenue, was up 2 percent to $3.00 billion.

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