REUTERS: Xerox Corp beat fourth-quarter profit estimates on Tuesday (Jan 29) as it reined in costs, but its revenue dropped more than expected as businesses continue to cut spending on printers and photocopiers.
Read more at https://www.channelnewsasia.com/news/business/xerox-quarterly-profit-beats-on-cost-cuts-11180674
Private equity firms did a great job with Toys R Us and Sears while being purchased by HP would not be surprising since half the C-Suite now have ties back to HP
https://seekingalpha.com/news/3427481-xerox-higher-citi-buyout-talk
Note from Citibank on 1/30/19:
"Citi tips this morning the company could be a private equity target or see resumed talks with Fuji or HP."
https://seekingalpha.com/news/3427481-xerox-higher-citi-buyout-talk
Unless the revenue trend is reversed things will not change. Trending down since Q4 of 2017 and down all of 2018.
What are a powerhouse!
Xerox (NYSE:XRX) reports revenue dropped 6.1% on an adjusted constant currency basis in Q4.
Equipment sales decreased 9.5% to $629M (-7.7% in constant currency).
Post sale revenue down 7.2% $1.9B (-5.5% in constant currency).
North America revenue declined 5.2% to $1.52B (-4.9% in constant currency).
International revenue slipped 7.2% to $929M (-3.2% in constant currency).
Gross margin rate fell 30 bps 40%.
Profit up...
Cutting our way to tech powerhouse greatness!