Xerox Corporation's (XRX) stock plummeted by 5.36% in pre-market trading on Tuesday, January 28th, 2025, after the company reported disappointing fourth-quarter earnings results.
The office equipment maker reported adjusted earnings of $0.36 per share for the fourth quarter, falling short of analysts' consensus estimate of $0.49 per share. While Xerox's revenue of $1.61 billion for the quarter exceeded expectations of $1.58 billion, investors appeared to focus more on the earnings miss, causing the sharp sell-off in the company's shares during the pre-market session.
Xerox's management stated that 2024 was a critical year as the company implemented a new operating model and structural process improvements. However, the weaker-than-expected earnings performance raised concerns among investors about the company's ability to execute its turnaround strategy effectively.
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