Xerox earnings are out and it’s pretty much the same thing we’ve seen since I can remember. Sales are down, revenue is down, “other stuff” (paper, supplies, financing, etc.) is down.
Did anybody think the new Xerox was going to come out of the gate and show positive earnings in the first quarter? Nope. Ships like this don’t turn fast.
Xerox has new leadership and a rekindled love with print. The changes they’re undertaking today will take time to make an impact.
There were pockets of good news in entry level products;
- 15% increase in color multifunction devices
- 1% increase in black-and-white multifunction devices
Otherwise, the numbers were pretty bad. They’ve been worse. I’m interested to see how the increased marketing efforts and refreshed product line will help going forward.
I love the new, reinvigorated Xerox. But, they need to get these numbers going the right way. Here are the earnings links, read them for yourselves: