Xerox Corp. profit falls 11%
NEW YORK (MarketWatch) — Xerox Corp. said Thursday its fourth-quarter profit dropped by 11% to 5 million, or 26 cents a share, from 5 million, or 26 cents a share, in the year-ago period. Adjusted profit in the latest quarter totaled 30 cents a share. Revenue fell 1% to .92 billion. Wall Street analysts expected Xerox to earn 29 cents a share on revenue of .87 billion, according to a survey by FactSet. Looking ahead, Xerox expects first-quarter adjusted profit of 23 cents to 25 cents a share. Analysts expect the company to earn 24 cents a share, on average.
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