XRX: Revenue up 22% with improved margins and reduced debt; guidance raised despite cost headwinds
Revenue rose 22% year-over-year to $1.92 billion, driven by Lexmark, though pro forma revenue declined 7%. Adjusted operating margin improved, debt was reduced by $223 million, and guidance for revenue and operating income was raised. Higher memory and oil prices remain a risk.Based on Xerox Holdin…