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Why Xerox Stock Just Crashed 11%

TheMotleyFool

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Shares of IT equipment giant Xerox (NYSE: XRX) dropped 11.1% through 1:10 p.m. EDT Tuesday. The company reported its third-quarter earnings this morning, beating on earnings, but missing on sales.

Analysts had forecast Xerox would earn $0.44 per share on $1.81 billion in sales in Q3. Xerox beat the earnings estimate with a $0.48-per-share profit -- but missed slightly on sales, reporting $1.77 billion.

Image source: Getty Images.

Source Fool.com

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