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Xerox Corp. lowered its earnings outlook for the year on Friday amid strengthening currency headwinds and softer contract signings, while also offering a weak outlook for its current quarter.
For the year, Xerox now expects adjusted earnings of 95 cents to $1.01 a share, down from its previous forecast for $1 to $1.06 a share. It expects revenue, stripping out currency fluctuations, to fall 1%, while it had previously forecast revenue would be flat for the year.
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For its current quarter, Xerox forecast per-share earnings of 21 cents to 23 cents. Analysts polled by Thomson Reuters recently had expected 25 cents a share in earnings.
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