Xerox Corporation (NYSE:XRX) released its earnings report for the three months ending June 30 this morning before the bell rang on Wall Street. The company showed earnings of $0.27 per share for the three months on revenues totaling $5.4 billion. On Wednesday’s market, stock in Xerox trended up, closing at $9.83 per share.
In the run up to the announcement of these results, analysts following Xerox Corporation (NYSE:XRX) were looking for earnings per share of 24 cents on revenue totaling $5.5 billion for the second quarter of the year. In the same three month period of 2012 the company earned 26 cents per share on revenue of $5.5 billion.
44% Xerox rise
Shares in Xerox Corporation (NYSE:XRX) have risen by more than 44% since January 1, beating the gains of the wider market and demonstrating the faith that investors have in Xerox Corporation for the years ahead. The company is expected to expand its earnings steadily in the coming years, with a consensus estimate of $1.10 this year after earnings per share amounted to $1.03 in 2012.
The most recent rise in the company’s stock brings new optimism after years of unsteady performance from the information technology and document solutions company. Shares in Xerox Corporation (NYSE:XRX) are still down close to 50% from their 2007 highs. Despite the recent growth, some of the company’s rivals are outperforming the already notable gains at Xerox.
Lexmark International Inc (NYSE:LXK) for example, has seen shares rise by more than 57% since 2013 began. The company’s shares have risen quickly since it announced its own earnings report earlier this week.
Xerox Corporation (NYSE:XRX) executives will host a conference call to discuss these results at 10 am EDT. Analysts and investors on the call will likely be interested in how the company managed this morning’s earnings beat, and what the likely effect of European and Chinese worries will be on the company’s outlook for the rest of 2013 and beyond.