Xerox Corp. Q4 adjusted earnings Miss Estimates

(RTTNews) - Xerox Corp. (XRX) released earnings for fourth quarter that dropped from last year.

The company's profit came in at $77 million, or $0.36 per share. This compares with $818 million, or $3.61 per share, in last year's fourth quarter.

Excluding items, Xerox Corp. reported adjusted earnings of $122 million or $0.58 per share for the period.

Analysts had expected the company to earn $0.60 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 20.9% to $1.93 billion from $2.44 billion last year.

Xerox Corp. earnings at a glance:

-Earnings (Q4): $122 Mln. vs. $300 Mln. last year. -EPS (Q4): $0.58 vs. $1.33 last year. -Analysts Estimate: $0.60 -Revenue (Q4): $1.93 Bln vs. $2.44 Bln last year.