07.30.19
Xerox reported its second quarter 2019 financial results. The company reported $313 million of operating cash flow, up $78 million year-over-year, and $297 million of free cash flow, up $94 million year-over-year. GAAP earnings per share (EPS) were $0.77, up $0.35 year-over-year, and adjusted EPS was $0.99, up $0.19 year-over-year.
Adjusted operating margin was 12.7%, up 170 basis points year-over-year, with $2.3 billion of revenue in the quarter, a decrease of 8.8% in actual currency, or 7.2% in constant currency, year-over-year.
“This quarter we delivered improvements in EPS, adjusted operating margin and free cash flow largely underpinned by our enterprise-wide transformation initiative, Project Own It. These results have enabled us to increase planned investments for the second half of the year to support our revenue roadmap while maintaining our full-year guidance for EPS, adjusted operating margin and free cash flow,” said John Visentin, Xerox vice chairman and CEO.
Adjusted operating margin was 12.7%, up 170 basis points year-over-year, with $2.3 billion of revenue in the quarter, a decrease of 8.8% in actual currency, or 7.2% in constant currency, year-over-year.
“This quarter we delivered improvements in EPS, adjusted operating margin and free cash flow largely underpinned by our enterprise-wide transformation initiative, Project Own It. These results have enabled us to increase planned investments for the second half of the year to support our revenue roadmap while maintaining our full-year guidance for EPS, adjusted operating margin and free cash flow,” said John Visentin, Xerox vice chairman and CEO.
