After Acquiring ACS, Xerox Reports Q2 Profits

Xerox’ earnings took a massive jump in the second quarter, because of the company’s acquisition of computer services firm ACS. As WNPR’s Harriet Jones reports, the Norwalk based company also saw a big increase in revenue.

Xerox acquired ACS in February – the $6 billion acquisition was a significant expansion of its core business, and seen as a bold move by then new CEO Ursula Burns. In the second quarter, excluding one-time items, Xerox earned $227 million, up from $140 million in the same quarter last year. Excluding one-time items, Xerox income equaled 24 cents per share, exceeding analysts’ expectations of 21 cents a share. Revenue rose almost $2 billion.

The company sells most of its products to other corporations and businesses, so it’s seen as a significant indicator of the health of the economy – Xerox said demand continued to increase in the second quarter, especially in developing markets and from small and mid-size businesses.

For WNPR, I'm Harriet Jones.