Xerox Holdings Corporation (NYSE: XRX), a provider of printing solutions, has released its second-quarter 2021 financial report. The company’s revenue continues to grow and it plans to meet its 2021 guidance despite continuing uncertainty surrounding its return to the office following COVID-19.
Xerox’s revenue grew 22.4% year-on-year to $1.79 billion during the past quarter and adjusted earnings per share increased to $0.47. Free cash flow rose to $198 million from $183 million a year earlier.
Xerox Holdings Corporation (NYSE: XRX) equipment and services have experienced an increase in demand as workers return to the offices. It is a positive sign for XRX investors, as the COVID-19 period has negatively impacted the sale of office and printing equipment while accelerating the digital transformation and phasing out the paper.
The company anticipates strong momentum in the second half of 2021, as well as investing in long-term growth. Specifically, Document Systems, which provides document solutions, was acquired in June. So, Xerox Holdings Corporation (XRX) has been granted digital workflow automation tools for small and medium businesses.
It is the third acquisition Xerox has made in a year. The company acquired Groupe CT in Spring 2021, a hybrid workflow service that offers print, digital and hybrid workflows. Digitex, a company that offers services for offices, including maintenance and repair of equipment, cloud services, and cybersecurity tools, was bought in 2020.
Xerox Holdings Corporation (XRX)’s stock closed the last session at $24.38. The stock has gained 60.29% in the last 12 months, and 2.87% in the last week. XRX stock prices rose 16.82% over the last six months and declined -0.57% over the last three months.