10:00 AM EDT, 07/25/2024 (MT Newswires) -- Xerox (XRX) shares fell by more than 8% in recent trading Thursday after the company reported Q2 adjusted earnings of $0.29 per diluted share, down from $0.44 a year earlier.

Three analysts polled by Capital IQ expected $0.42.

Revenue for the quarter ended June 30 was $1.58 billion, down from $1.75 billion a year earlier.

Two analysts surveyed by Capital IQ expected $1.59 billion.

The company said it now expects 2024 revenue to decline 5% to 6% in constant currency, compared with its previous outlook for a drop of 3% to 5%.

Price: 10.88, Change: -0.90, Percent Change: -7.68