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Resilient demand and improvements in supply chain conditions drove solid fourth-quarter revenue and profit growth at Xerox Corp.
The company reported Thursday that net income attributable to Xerox was $121 million, or 74 cents a diluted share, compared to a net loss of $675 million, or $3.97 cents, in the prior year’s quarter.
Adjusted net income was 89 cents.
Revenue was $1.94 billion, up from revenue of $1.78 billion during the previous year’s quarter.
“Our employees and partners worked hard to deliver the highest level of revenue since the start of the pandemic and I am proud of the focus and dedication which led to these results,” said Steve Bandrowczak, Xerox CEO, in a statement. “As macroeconomic uncertainty extends through this year, we will continue working alongside our clients to develop and deploy essential workplace solutions and services, positioning Xerox for long-term growth in profitability.”
For its 2023 guidance, the company expects revenue growth to be flat to down low-single-digits in constant currency.
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