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Xerox posts 3Q profit of $266 million, result tops expectations

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NORWALK, Connecticut — Xerox Corp. (XRX) on Wednesday reported third-quarter net income of $266 million.

The Norwalk, Connecticut-based company said it had profit of 22 cents per share. Earnings, adjusted for amortization costs and to account for discontinued operations, were 27 cents per share.

The results topped Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 26 cents per share.

The business services provider and copier company posted revenue of $5.12 billion in the period.

For the current quarter ending in December, Xerox expects its per-share earnings to range from 30 cents to 32 cents.

The company expects full-year earnings in the range of $1.11 to $1.13 per share.

Xerox shares have increased 8.5 percent since the beginning of the year, while the Standard & Poor's 500 index has risen 5 percent. The stock has increased 20 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. XRX stock research report from Zacks: http://www.zacks.com/ap/XRX

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Keywords:Xerox,Earnings Report

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