Zhitong Finance APP learned that Xerox (XRX. US) revenue for the fourth quarter of 2020 was $1.93 billion, down 21% year-over-year; Attributable net income was $77 million, down 91% year-over-year. Full-year revenue was $7,022 million, down 22.5% year-over-year; Attributable net income was $192 million, down 85.8% year-over-year.
In the fourth quarter, free cash flow was $221 million, a decrease of $160 million year-over-year; Free cash flow for the full year was $474 million, down $705 million year-over-year.
Adjusted operating margin of 9.5% in the fourth quarter, down 730 basis points year-over-year; Full-year adjusted margin was 6.6 percent, down 650 basis points year-over-year.
Earnings per share (GAAP) of continuing operations for the fourth quarter were $0.36, down $0.05 sequentially and $0.81 year-over-year; Earnings per share of continuing operations (GAAP) for the full year were $0.84, down $1.94 year-over-year.
The company expects 2021 revenue of at least $7.2 billion, up 2.5% year-over-year; operating cash flow of at least $600 million; and free cash flow of at least $500 million.
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