Xerox's (XRX) net income fell in the second quarter.

Earnings and Revenue

The company's EPS fell in line with analyst expectations of 26 cents a share while revenue of $5.54 billion missed estimates of $5.59 billion.

The company's net income for the quarter was $316 million. According to the reported number, this is down 3.4% from last year's levels. Revenue fell 1.3% from $5.45 billion in the same period last year.

History Against Expectations

The company fell in line with estimates last quarter after topping expectations in the previous two quarters. In the first quarter, it topped the mark by one cent, and in the fourth quarter of the last fiscal year, it was ahead by one cent.

Official Comment:

"With more than half our total revenue coming from services, accelerating growth in this segment of our business is a priority," said Ursula Burns, Xerox chairman and chief executive officer. "Our second-quarter results reflect solid progress, with eight percent growth from business process outsourcing, nine percent growth from IT outsourcing and six percent growth in document outsourcing, all at constant currency."

Estimates provided by Zacks Investment Research and company fundamentals from Xignite Financials.