Xerox Releases First-Quarter Results

Financial Summary

Q1 2023

• Revenue of $1.72 billion, up 2.8 percent year-over-year or up 5.5 percent in constant currency.

• GAAP earnings per share (EPS) of $0.43, up $0.81 year-over-year.

• Adjusted EPS of $0.49, up $0.61 year-over-year.

• Adjusted operating margin of 6.9 percent, up 710 basis points year-over-year.

• Operating cash flow of $78 million, up $12 million year-over-year.

• Free cash flow of $70 million, up $20 million year-over-year.
• Donated Palo Alto Research Center (PARC) to SRI International in April, providing Xerox greater capacity to pursue innovation projects in Print, IT, and Digital Services.
• Repaid $450 million of debt during the quarter.

News Release	Related Earnings Documents	Webcast and Multimedia
First-Quarter Results (PDF, 771 KB)	Xerox Q1 2023 Earnings Presentation (PDF, 8.24 MB)   Xerox Q1 2023 Non-GAAP Measures (PDF, 915 KB)   Xerox Q1 2023 Financial Model (PDF, 235 KB) or (Excel, 4.29 MB)   Xerox Q1 2023 Summary (PDF, 124KB)	Webcast Replay: Conference Call

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