08:37 AM EDT, 04/23/2024 (MT Newswires) -- Xerox (XRX) reported Q1 adjusted earnings Tuesday of $0.06 per diluted share, down from $0.49 a year earlier.

Four analysts polled by Capital IQ expected $0.35.

Revenue for the quarter ended March 31 was $1.50 billion, down from $1.72 billion a year earlier.

Three analysts surveyed by Capital IQ expected $1.57 billion.

The company said it continues to expect 2024 revenue to decline 3% to 5% on a constant currency basis.

Shares of Xerox were down more than 9% in recent Tuesday premarket activity.