Xerox Corp. posted a higher-than-expected second quarter profit Thursday, fuelled by solid demand for printing and outsourcing services, and the company boosted its full-year outlook.
Shares of Xerox rose nearly 5 per cent in trading before the market opened.
The provider of printing and document management services, whose results offer a peek into the spending behaviour of top corporations around the globe, said second-quarter profit rose to $227-million from $140-million a year earlier.
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On a per-share basis, net profit of 16 cents was even with a year earlier, reflecting a 62 per cent 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.
Xerox, whose rivals include Ricoh Co., Oce NV, Canon Inc. and Konica Minolta Holdings, said revenue rose 48 per cent to $5.5-billion, which matched analysts' forecasts.