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Xerox Stock Dives After Swinging to a First-Quarter Loss

Xerox Stock Dives After Swinging to a First-Quarter Loss

Xerox Holdings stock plummeted Tuesday after the workplace technology company swung to a loss in the first quarter. Xerox reported a first-quarter loss of $113 million, or 94 cents a share, down from year-earlier profit of 43 cents. Adjusted earnings in the period were 6 cents a share on revenue of $1.5 billion, below analysts’s estimates for adjusted earnings of 35 cents a share on revenue of $1.53 billion.