UPDATE: Xerox Reports 41% Surge In Q2 Net Income

Xerox Corp XRX reported a 41% rise in its second-quarter net income and raised its earnings forecast for the year. Xerox reported its quarterly earnings at $319 million, or $0.22 per share, up from $227 million, or $0.16 per share, in the year-ago period. The company's adjusted net income came in at $0.27 per share. Its revenue surged to $5.61 billion from $5.51 billion. However, analysts were expecting earnings of $0.24 per share on revenue of $5.62 billion. For the year, Xerox now projects earnings of $0.91 to $0.96 per share, or an adjusted $1.07 to $1.12 per share. Analysts expected a profit of $1.07 per share. Xerox shares gained 2.39% to close at $10.30 yesterday.