Xerox posts 2Q profit

MarketsAssociated Press

Xerox Corp. (XRX) on Tuesday reported second-quarter profit of $166 million.

On a per-share basis, the Norwalk, Connecticut-based company said it had profit of 63 cents. Earnings, adjusted for one-time gains and costs, came to 87 cents per share.

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The business services provider and copier company posted revenue of $2.57 billion in the period.

Xerox expects full-year earnings in the range of $3.20 to $3.44 per share.

Xerox shares are up 33 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 10 percent. The stock has increased about 15 percent in the last 12 months.

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This story has been corrected to say that Xerox's stock price has increased since the beginning of the year and in the last 12 months, not fell.

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This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on XRX at https://www.zacks.com/ap/XRX

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Keywords: Xerox, Earnings Report