Xerox Holdings Corporation announced its first-quarter 2025 financial results on May 1, 2025, reporting total revenue of $1.457 billion, a 3.0% decrease in actual currency and a 1.1% decrease in constant currency year-over-year. The company posted a GAAP diluted loss per share of $(0.75), an improvement from $(0.94) in Q1 2024, which included a $59 million charge for valuation allowances and $14 million in financing-related charges.
Adjusted operating income for the quarter was $22 million, a 33.3% decrease year-over-year, with an adjusted operating income margin of 1.5%, down 70 basis points. Equipment sales declined by 2.1% in actual currency to $284 million, but total equipment installations increased by 24% year-over-year. Revenue from IT Solutions grew significantly by 121.6% year-over-year to $164 million.
Xerox reiterated its 2025 guidance, expecting low single-digit constant currency revenue growth, an adjusted operating income margin of at least 5.0%, and free cash flow between $350 million and $400 million. The company highlighted improved sales productivity and the successful integration of ITsavvy as key drivers of momentum in its 'Reinvention' strategy, with the ITsavvy integration running ahead of plan.
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