Xerox announces revenue forecast

Xerox has announced that it expects to post a 6-8% year-on-year rise in its full-year revenue to $22.9-23.4 billion.

Analysts expected the firm's revenue to reach at least $22.8 billion this year, according to FactSet.

The printer and copier maker, based in Norwalk, Connecticut, predicts that its earnings for the period will reach $1.05-1.10 per share, excluding items.

This is in line with analysts' estimates of $1.08 per share.

Xerox hopes that its earnings for 2012 will reach $1.18-1.28 per share, excluding items. Analysts estimated the company's earnings to stand at $1.24 per share.

In 2010, the company bought Affiliated Computer Services, an outsourcing specialist, for $6.5 billion, which helped it become a major player in the market.

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