Xerox Shares Fall 40.3% After Loss, Outlook Cuts and Dividend Suspension
Xerox reported a third-quarter GAAP net loss of $1.02 billion, cut its full-year profit and cash flow outlook, and suspended its dividends to preserve liquidity.
What happened? Shares of document technology company Xerox NASDAQ:XRX fell 40.3% in the morning session after the company reported a third-quarter GAAP net loss of $1.02 billion, cut its full-year profit and cash flow outlook, and suspended its dividends to preserve liquidity.According to a company…