Xerox Profit Tumbles 35 Percent

The office equipment manufacturer Xerox Corp.. generated in the second quarter, a profit of 140 million U.S. dollars or 16 cents per share. In the same period last year Xerox earned 215 million U.S. dollars or 24 cents per share.

Turnover fell by 18% to 3.73 billion U.S. dollars.

The Thomson Reuters average analyst estimates collected subject to a profit of 11 cents and revenues of 3.72 billion U.S. dollars.

In a statement, Xerox CEO Ursula Burns said, “Assuming current economic conditions persist, we expect revenue will remain under pressure during the balance of this year.”

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