Xerox plans business restructuring, $250 million VC fund

Jan. 26, 2021 9:54 AM ETXerox Holdings Corporation (XRX)By: Brandy Betz, SA News Editor
  • Earlier, Xerox (NASDAQ:XRX) reported mixed Q4 results that narrowly beat on revenue but missed on profit and provided FY21 guidance that included at least $7.2B in constant currency revenue versus the $7.04B consensus.
  • Xerox also revealed plans to create separate Software, Financing, and Innovation organizations into distinct businesses by 2022. The Software business focus will include DocuShare and augmented reality product CareAR. Xerox Financial Services aims to become "a global payments solutions business" with leasing offerings. And the Palo Alto Research Center will continue with its efforts, which include 3D printing and digital manufacturing.
  • In the coming months, Xerox will launch a $250 million corporate venture capital fund to invest in startups and early- to mid-stage growth companies.
  • XRX shares are down 3.5% to $20.03.
  • Background: Xerox EPS misses by $0.05, beats on revenue

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