Workplace technology company Xerox Holdings Corp. (XRX) reported Tuesday that net income for the third quarter declined to $90 million or $0.41 per share from $221 million or $0.68 per share in the year-ago quarter.
Excluding items, adjusted earnings for the quarter were $0.48 per share, compared to $0.80 per share last year.
Revenue for the quarter declined 18.9 percent to $1.77 billion from $2.18 billion in the same period last year.
On average, analysts polled by Thomson Reuters expect the company to report earnings of $0.24 per share on revenues of $1.60 billion for the year. Analysts' estimates typically exclude special items.
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