Xerox Corporation (NYSE: XRX) on Thursday reported a sharp increase in fourth-quarter 2022 earnings, on an adjusted basis. The company’s revenue increased by 9% during the three-month period.
Net income, excluding special items, jumped to $0.89 per share in the final three months of the fiscal year from $0.34 per share last year. The reported profit was $121 million or $0.74 per share in the December quarter, compared to a loss of $675 million or $3.97 per share in the fourth quarter of 2021.
“As macroeconomic uncertainty extends through this year, we will continue working alongside our clients to develop and deploy essential workplace solutions and services, positioning Xerox for long-term growth in profitability,” said Xerox’s CEO Steve Bandrowczak.