Xerox Delivers EPS Growth, Margin Expansion in1Q 2019

Xerox reported its first quarter 2019 financial highlights. GAAP earnings per share (EPS) were $0.55, up $0.47 year-over-year, and adjusted EPS of $0.91, up $0.23 year-over-year. Xerox had $226 million of operating cash flow, up $10 million year-over-year, and $211 million of free cash flow, up $13 million year-over-year.
 
Adjusted operating margin of 11.3% was up 140 basis points year-over-year, while Xerox had $2.2 billion of revenue in the quarter, a decrease of 9.4% year-over-year or 7%% in constant currency
 
“Our transformation initiatives are yielding results, which give us confidence to raise our full-year earnings guidance despite revenue declines. We are investing in our core business as well as new technologies that create value for our stakeholders and position us for long-term growth,” said Xerox vice chairman and CEO John Visentin.