NCR Corp. Reduces 2018 Guidance - Quick Facts

(RTTNews) - NCR Corp. (NCR) reduced its 2018 non-GAAP earnings per share guidance to be $2.55 to $2.75 (previous guidance of $3.30 to $3.45). The company said the decrease in diluted earnings per share is due to lower revenue, decreased gross margin rates in Hardware business and continued investment to improve execution. The company expects approximately two-thirds of the full year decrease in non-GAAP earnings per share guidance to impact the third quarter of 2018.

NCR Corp. now expects 2018 revenue to decline in the range of 1% to 3%, (previous guidance of flat to growth of 3%). In addition to foreign currency, the company has experienced softness in its Hardware revenue and to a lesser extent in its Software business, primarily due to execution challenges.

For the second quarter, non-GAAP earnings per share was $0.65 compared to $0.80. Revenue was $1.54 billion, down 4% year-over-year.