Xerox Releases Second-Quarter Results

Norwalk, Conn. —  

Financial Summary

Q2 2023

• Revenue of $1.75 billion, up 0.4 percent, or 0.5 percent in constant currency.
• GAAP (loss) earnings per share (EPS) of $(0.41), down $0.36 year-over-year.
• Adjusted EPS of $0.44, up $0.31 year-over-year.
• Adjusted operating margin of 6.1 percent, up 410 basis points year-over-year.
• Operating cash flow of $95 million, up $180 million year-over-year.
• Free cash flow of $88 million, up $186 million year-over-year.
• Increasing guidance for adjusted operating margin to a range of 5.5% to 6.0%, and free cash flow to at least $600 million.