Xerox Holdings Corporation announced 2021 second-quarter results, reporting increases in revenue, higher equipment sales and recovery of page volumes.
The company has reported $1.79 billion (€1.52 billion) of revenue, up 22.4% year-over-year (YoY) or 18.1 percent in constant currency.
“We saw growing demand for our products and services in the second quarter. Increased equipment sales and print volumes in many regions are consistent with a continuing, gradual return to the office and give us confidence to reaffirm our revenue and cash flow guidance for the year,” said Xerox Vice Chairman and CEO John Visentin.
Xerox explained that during the second quarter 2021, its business continued to be impacted by the pandemic. However, the company saw a continued gradual recovery of its revenues in the quarter as businesses gained confidence in the control of the pandemic and as a result invested in new printing technology and services.
Xerox continued to see a positive correlation between the roll-out of vaccinations, the return of employees to the office, and the gradual recovery of our page volume driven post sale revenues.
Xerox expects that measures to control the pandemic and expand economic activity will result in a moderate economic improvement in 2021. However, in the near term, the recovery may be uneven and affected by the emergence of new variants of the COVID-19 virus which could result in a resurgence of cases in various countries and regions.
“Over the past 18 months, our team has successfully managed through an unprecedented level of uncertainty to continue delivering value to our clients. This focus will continue in the second half of the year as we manage through global supply chain disruption while investing for sustainable, long-term growth,” Visentin added.
