Alright, Xerox family, buckle up!
Remember that bold Reinvention roadmap promising to save us all? Well, it’s still coming to the rescue… just not today. Or tomorrow. Turns out, our cost-saving hero is taking the scenic route, ETA: sometime in 2025.
The plot twist: we aimed for a modest 3-5% revenue decline, but reality thought 7.3% would be funnier. Cash flow? Set the bar at $600M for the year, and we have got... $107M so far. Let’s just say the "plan" and "reality" are no longer speaking terms.
Operating margin? We were dreaming of 7.5%. Q3 gave us 5.2%, closer to a polite round of applause than a standing ovation.
And where is our fearless leader in all this? Well, let’s just say SB might be getting acquainted with a “strategy timeout” soon, or maybe a “reflective sabbatical” if these numbers don’t get their act together.
2025: Year of the Reinvention Hero. 2024: Year of the Waiting Game... and maybe, the CEO “vacation.”