Xerox Corp. Reveals 17% Decline In Q1 Earnings

(RTTNews) - Xerox Corp. (XRX) reported earnings for first quarter that declined from last year.

The company said its profit declined to $154 million, or $0.15 per share. This was down from $186 million, or $0.18 per share, in last year's first quarter.

Analysts had expected the company to earn $0.16 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 6.5% to $2.45 billion. This was down from $2.62 billion last year.

Xerox Corp. earnings at a glance:

-Earnings (Q1): $154 Mln. vs. $186 Mln. last year. -Earnings Decline (Y-o-Y): -17.2% -EPS (Q1): $0.15 vs. $0.18 last year. -EPS Decline (Y-o-Y): -16.7% -Analysts Estimate: $0.16 -Revenue (Q1): $2.45 Bln vs. $2.62 Bln last year. -Revenue Change (Y-o-Y): -6.5%

-Guidance: Full year EPS guidance: $0.80 - $0.88