Xerox Withdraws 2020 Financial Guidance - Quick Facts

(RTTNews) - Xerox Holdings Corp. (XRX) said the company is withdrawing its 2020 financial guidance for revenue, adjusted operating margin, earnings per share and free cash flow due to the high level of economic uncertainty and disruption caused by COVID-19.

For the first quarter, adjusted earnings per share was $0.21 compared to $0.66, prior year. On average, five analysts polled by Thomson Reuters expected the company to report profit per share of $0.36, for the quarter. Analysts' estimates typically exclude special items.

First quarter total revenues were $1.86 billion, a decrease of 14.7 percent year-over-year or 13.9 percent in constant currency. Analysts expected revenue of $1.72 billion for the quarter.