Xerox Corp posted lower quarterly results, hurt by a slowdown in office equipment spending, and forecast a third quarter profit that fell shy of Wall Street analysts expectations.
The company, the world's No. 1 supplier of digital printer and document management services, reported second quarter net income of $140 million, or 16 cents a share, down from $215 million, or 24 cents a share, a year earlier.
Revenue declined 18 percent to $3.73 billion.
Analysts had expected a profit of 11 cents a share, on revenue of $3.72 billion, according to Reuters Estimates. It was not immediately clear if the per share figures were comparable.
Assuming current economic conditions persist, we expect revenue will remain under pressure during the balance of this year, said Xerox Chief Executive Ursula Burns in a statement.
(Reporting by Franklin Paul; Editing by Derek Caney)