Xerox Releases 1Q 2025 Results

Xerox Holdings Corporation announced its 2025 first-quarter results.

Xerox reported revenue of $1.46 billion, down 3% and 1.1% in constant currency. GAAP net (loss) was $(90) million, or $(0.75) per share, improved by $23 million or $0.19 per share, year-over-year, respectively. Operating cash flow was $(89) million, lower by $10 million year-over-year. Free cash flow of $(109) million, lower by $20 million year-over-year.

“In a quarter marked by increasing levels of macroeconomic and trade policy uncertainty, our team remained focused on what we can control: the balanced execution of our Reinvention and delivering client success,” said Steve Bandrowczak, CEO at Xerox. “Improved sales productivity, the successful integration of ITsavvy and other Reinvention-enabled operating efficiencies drove momentum in revenue and positive adjusted operating income in our seasonally lowest quarter. Reinvention is delivering improved operating predictability and sales momentum, positioning Xerox well for long-term growth in revenue and adjusted operating income.”

In the first quarter balanced execution, the benefits of last year’s Reinvention-related organizational changes and ongoing Reinvention initiatives resulted in an improved revenue trajectory and another quarter of double-digit declines in operating expenses, excluding one-time Reinvention costs and the impact from the recent acquisition of ITsavvy.

Sales productivity and services metrics improved year-over-year, and the ITsavvy integration and cost reduction programs are running ahead of plan, placing Xerox firmly on a near-term path for revenue stabilization and growth in adjusted operating income.