Xerox Releases Third-Quarter Results

Financial Summary

Q3 2023

• Revenue of $1.65 billion, down 5.7 percent, or 7.4 percent in constant currency.
• GAAP net income of $49 million, or $0.28 per share, up $432 million or $2.76 per share, year-over-year, respectively.
• Adjusted net income of $77 million, or $0.46 per share, up $44 million or $0.27 per share, year-over-year, respectively.
• Adjusted operating margin of 4.1 percent, up 40 basis points year-over-year.
• Operating cash flow of $124 million, up $132 million year-over-year.
• Free cash flow of $112 million, up $130 million year-over-year.
• Announces Reinvention, expected to deliver improvement in adjusted operating income of at least $300 million by 2026.

News Release	Related Earnings Documents	Webcast and Multimedia
Third-Quarter Results (PDF, 892 KB)	Xerox Q3 2023 Earnings Presentation (PDF, 1.7 MB)   Xerox Q3 2023 Non-GAAP Measures (PDF, 922 KB)   Xerox Q3 2023 Financial Model (PDF, 274 KB) or (Excel, 4.3 MB)   Xerox Q3 2023 Summary (PDF, 118 KB)	Webcast Replay: Conference Call

---