Xerox Corp posted a higher-than-expected second quarter profit on Thursday, fueled by solid demand for printing and outsourcing services, and the company boosted its full-year outlook.
Shares of Xerox rose nearly 5 percent in trading before the market opened.
The provider of printing and document management services, whose results offer a peek into the spending behavior of top corporations around the globe, said second-quarter net income rose to $227 million from $140 million a year earlier.
On a per-share basis, net profit of 16 cents was even with a year earlier, reflecting a 62 percent increase in shares outstanding.
The latest period was the first full quarter that Xerox benefited from its acquisition of Affiliated Computer Services which manages back-office systems and provides technology services.
Excluding costs related to restructuring, acquisitions and other special items, the profit was 24 cents a share, beating the analysts' average estimate of 21 cents, according to Thomson Reuters I/B/E/S.
Xerox, whose rivals include Ricoh Co <7752.T> , Oce NV , Canon Inc <7751.T> and Konica Minolta Holdings <4902.T>, said revenue rose 48 percent to $5.5 billion, which matched analysts' forecasts.
(Reporting by Franklin Paul)