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Xerox to Review Operations Following Weak Q3 Results

Xerox Corp. (NYSE: XRX) reported third-quarter 2015 results before markets opened Monday. The business technology firm posted quarterly adjusted diluted earnings per share (EPS) of $0.24 on revenues of $4.33 billion. In the same period a year ago, the company reported EPS of $0.26 on revenues of $4.8 billion. Third-quarter results also compare to the Thomson Reuters consensus estimates for EPS of $0.23 and $4.54 billion in revenues.

The company also announced that its board has authorized a review of the company’s business portfolio and capital allocation options, with the goal of enhancing shareholder value.

On a GAAP basis, Xerox posted a net loss of $0.04 per share, which includes a charge of $0.05 related to amortization of intangibles and a charge of $0.23...