Xerox posts 8% revenue gain in Q2
Xerox Corp. revenue grew 8% for the three months ended June 30, for a total of $4.5 billion.
“While the U.S. economy creates challenges for our business with large enterprises, we're seeing consistent positive performance in the small and midsize business market, with strong results from our developing markets and Global Imaging operations,” said Anne M. Mulcahy, CEO and chairman at Xerox, in a statement. “In addition, demand for our document services, which help customers reduce costs and improve productivity, is up this quarter,” she continued.
Revenue from color grew 11% in the second quarter and represents 40% of Xerox's total revenue.
Xerox's production business provides commercial printers and document-intensive industries with high-speed digital printing and services that enable on-demand, personalized printing. Total production revenue increased 4% in the second quarter. Production color installations declined 12% in the second quarter largely due to the timing of new product introductions. In late May, Xerox launched six production color systems, with installations primarily beginning in the second half of this year. .
Installations of color multifunction systems in offices were up 34% from the prior year. Total office revenue was up 9% in the second quarter. Installations of the company's black-and-white multifunction devices increased 10%.