Xerox Corp. Q3 Income Drops 16%

(RTTNews) - Xerox Corp. (XRX) released earnings for third quarter that declined compared to the same period last year.

The company said its bottom line declined to $258 million, or $0.24 per share. This was lower than $306 million, or $0.26 per share, in last year's third quarter.

Analysts had expected the company to earn $0.23 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 9.8% to $4.33 billion. This was down from $4.80 billion last year.

Xerox Corp. earnings at a glance:

-Earnings (Q3): $258 Mln. vs. $306 Mln. last year. -Earnings Decline (Y-o-Y): -15.7% -EPS (Q3): $0.24 vs. $0.26 last year. -EPS Decline (Y-o-Y): -7.7% -Analysts Estimate: $0.23 -Revenue (Q3): $4.33 Bln vs. $4.80 Bln last year. -Revenue Change (Y-o-Y): -9.8%

-Guidance: Next quarter EPS guidance: $0.28 - $0.30 Full year EPS guidance: $0.95 - $1.01