Tagged With "3Q"

Quarterly Loss : Xerox reported a net loss of $83 million in Q3 2024, influenced by weaker-than-expected copier and printer sales as businesses continue shifting to digital solutions. Revenue Decline and Forecast Adjustment : Revenue decreased by around 5% year-over-year, prompting Xerox to lower its revenue expectations for 2024, projecting further declines in hardware demand through the remainder of the year. Cost Management Efforts : In response to falling sales, Xerox is increasing...

The transition from a majority hardware revenue to a greater percentage of software and services revenue is rarely easy because it takes a whole different mind-set mostly. However, when making this transition to software I see many companies making a fatal mistake to re-create the wheel in overcrowded markets and even compete against many of their most strategic partners. It's going to be an interesting time for M&A in the next few months culminating with many announcements by April 2025...