Xerox Releases Fourth-Quarter and Full-Year Results

Q4 2023
*Revenue of $1.77 billion, down 9.1 percent year-over-year or down 10.6 percent in constant currency.
*GAAP net loss of $(58) million, or $(0.50) per share, down $179 million or $1.24 per share, year-over-year, respectively. This quarter includes an after-tax Restructuring and related costs, net charge of $78 million, or $0.62 per share, related to the recently announced workforce reduction.
*Operating cash flow of $389 million, up $203 million year-over-year.

FY 2023
*Revenue of $6.89 billion, down 3.1 percent year-over-year, or down 3.3 percent in constant currency.
*GAAP net income of $1 million, or $(0.09) per share, up $323 million or $2.06 per share, year-over-year, respectively. 2023 includes a Q4 after-tax Restructuring and related costs, net charge of $78 million, or $0.62 per share, related to the recently announced workforce reduction. 2022 includes an after-tax non-cash goodwill impairment charge of $395 million, or $2.54 per share.
*Operating cash flow of $686 million, up $527 million year-over-year.
details at: https://s3.amazonaws.com/cms.ipressroom.com/84/files/20240/4Q2023-XRX-Earnings-Release.pdf

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