Xerox first-quarter profit beats view, warns on second-quarter
(Reuters) – Xerox Corp on Tuesday reported first-quarter earnings that beat expectations but said second-quarter profit would miss estimates as it restructures to become a broader technology company. Adjusted earnings were 27 cents per share, compared with the average analyst estimate of 24 cents. Revenue fell 3 percent to $5. 4 billion, below analyst expectations of $5. 5 billion. Xerox said earnings were higher than expected due to a benefit of 2 cents after reducing its reserve for recent litigation. It did not elaborate. . . .
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