Xerox Releases 2Q 2021 Results

Xerox Holdings Corporation announced 2021 second-quarter results.

The company reported $1.79 billion of revenue, up 22.4% year-over-year or 18.1% in constant currency. GAAP earnings per share (EPS) was $0.46, up $0.35 year-over-year, and adjusted EPS of $0.47, up $0.32 year-over-year. Adjusted operating margin was 7%, up 280 basis points year-over-year.

In addition, $214 million of operating cash flow was up $180 million year-over-year, while
$198 million of free cash flow was up $183 million year-over-year.

“We saw growing demand for our products and services in the second quarter. Increased equipment sales and print volumes in many regions are consistent with a continuing, gradual return to the office and give us confidence to reaffirm our revenue and cash flow guidance for the year,” said John Visentin, Xerox vice chairman and CEO. “Over the past 18 months, our team has successfully managed through an unprecedented level of uncertainty to continue delivering value to our clients. This focus will continue in the second half of the year as we manage through global supply chain disruption while investing for sustainable, long-term growth.”