Xerox releases fourth-quarter and full-year results
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Xerox Holdings Corp. reported fourth-quarter revenue of $2.03 billion, up 25.7 percent, or 23.6 percent in constant currency. On a pro forma basis, revenue is down 9.0 percent. The GAAP net (loss) was $(73) million, or $(0.60) per share, an increase from $52 million or $(0.40) per share, year-over-year, respectively.
For the full year, Xerox reported revenue of $7.02 billion, up 12.9 percent, or 12.2 percent in constant currency. On a pro forma basis, revenue is down 7.6 percent. GAAP net (loss) of $(1.03) billion, or $(8.25) per share, an improvement of approximately $0.3 billion or $2.50 per share, year-over-year, respectively. 2024 includes an after-tax non-cash goodwill impairment charge of $1.0 billion, or $8.17 per share.
“We continue to execute with discipline in a difficult macro backdrop, including the lingering effects of government uncertainty and rising memory costs. The Lexmark integration is advancing ahead of plan, and the teams are delivering tangible synergies,” said Steve Bandrowczak, chief executive officer at Xerox. “These efforts contributed to a better‑than‑expected operating income and free cash flow performance this quarter. As demand trends begin to stabilize, we’re seeing new opportunities emerge, leading to a pipeline that is larger than it was this time last year.”
