Xerox unveils quarterly earnings

Xerox has unveiled its quarterly results.

Adjusted earnings stood at 27 cents a share excluding a five-cent charge related to the amortisation of intangibles, which meant earnings per share was 22 cents.

Revenue for the quarter stood at $5.6 billion, which is up 2%, or down 1% in constant currency.

Ursula Burns, Xerox chairman and chief executive officer, said: "During the second quarter, our disciplined focus on scaling our services business and delivering operational improvements helped to increase bottom-line results and generate operating cash, positioning us well to increase our earnings expectations for the full year."

Quarterly revenue from the technology arm, which constitutes the sale of document systems, supplies, technical service and financing of products, was static, or down 4% in constant currency.

There were curbs in supply following the natural disasters in Japan. But Xerox said the situation is improving.

"We're seeing steady progress and making all the necessary investments to respond to customers' needs," said Ms Burns.

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