Xerox revenue on the rise after dipping in 2022

Xerox Holdings Corporation has revealed its financial results for the second quarter of 2023, announcing a revenue of US$1.75 billion ($2.5 billion), up 0.4 per cent YoY.

This is an increase from last year’s financial results, where it reported a decline in revenue of 2.6 per cent – from US$1.79 billion ($2.56 billion) in Q2 2021 to US$1.75 billion ($2.5 billion) in the reported quarter.

In Q2 2023, it reported an adjusted operating margin of 6.1 per cent, up 410 basis points year-over-year. Its operating cash flow was US$95 million ($142.7million), up US$180 million ($270 million) YoY.

Its print and other category revenue was reported at US$1.674 billion ($2.52 billion), marginally up from the US$1.673 billion ($2.51 billion) it brought in during Q2 2022. Print and other category profit was reported at US$107 million ($160.8 million), up from US$29 million ($43.5 million) the same time last year.

“Over the last 12 months, Xerox has taken significant steps to strengthen its operating and financial discipline, leading to another quarter of profitable growth amid a dynamic macroeconomic backdrop,” Xerox CEO Steve Bandrowczak said.

“I’m proud of the part all Xerox employees and partners have played in our continued success. An improved operating system leaves us well positioned to pursue growth opportunities as we focus on meeting clients’ evolving needs in today’s hybrid workplace.”

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