Xerox records Q2 revenue of US$1.75B, down 2.6% year-over-year with GAAP loss of US$0.05 per share, down US$0.51 per share year-over-year; print and other revenue down 2.3% to US$1.63B from Q2 2021, while print profit down 83.8% to US$18M

NORWALK, Connecticut , July 26, 2022 (press release) –

Improving revenue trajectory and cost actions expected to drive profitability growth in second half

Financial Summary 

• $1.75 billion of revenue, down 2.6 percent year-over-year or up 1.1 percent in constant currency.
• GAAP (loss) earnings per share (EPS) of $(0.05), down $0.51 year-over-year, and adjusted EPS of $0.13, down $0.34 year-over-year.
• Adjusted operating margin of 2.0 percent, down 500 basis points year-over-year.
• Operating cash flow use of $85 million, lower by $299 million year-over-year.
• Free cash flow use of $98 million, lower by $296 million year-over-year.

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