Xerox Forecast Misses Estimates as Document Unit Slumps
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Xerox Corp., the printer and copier pioneer, fell after its second-quarter profit forecast missed analyst estimates, hampered by restructuring costs and a slump in its document business.
Excluding some items, earnings will be 23 cents to 25 cents a share this quarter, Norwalk, Connecticut-based Xerox said today in a statement. Analysts had predicted 26 cents on average, according to data compiled by Bloomberg.