- Pitney Bowes (PBI +11%) soars after the company beats the Street's profit estimate.
- Revenue fell 1% during for the period. Digital Commerce Solutions sales +9% Y/Y.
- EBIT margin improves 80 bps.
- "The results reflect aggressive actions ... in line with [PBI's] long-term strategy to deliver greater value for shareholders and clients," CEO Marc Lautenbach says, adding that the company will "continue to use a portion of the savings generated from reduced operating costs to invest in positioning [the] digital commerce solutions [business] for growth."
- FY13 outlook: Adjusted EPS of $1.68-1.83 versus previous guidance of $1.62-1.77 and against consensus of $1.81. Revenue growth guidance affirmed at -1% to +2%. (PR)
Pitney Bowes rallies after raising guidance
Oct 29 2013, 12:26 ET