Xerox's Q3 Revenue Up 28.3% YoY, Adjusted EPS Beats Estimates, Shares Fall 11.43%

Xerox reported Q3 revenue growth of 28.3% YoY to $1.96 bln, missing analyst estimates. However, the company's bottom line topped expectations, with adjusted EPS of 20 cents. Despite this, shares plummeted 11.43% to $3.04 due to a cautious outlook, with the company lowering its full-year free cash flow guidance and cutting its expected adjusted operating margin.