Xerox revenue surges 22% to $1.92B in major growth comeback

• Xerox Holdings reported second-quarter 2026 revenue of $1.92 billion, up 22% year over year.
• Adjusted net income increased to $55 million, while adjusted operating income reached $203 million.
• The company reported improved margins and higher cash flow compared with the prior-year quarter.

Xerox Holdings (NASDAQ:XRX) reported second-quarter 2026 revenue of $1.92 billion, up 22.0% year over year, as profitability improved across its operations.

On a pro forma basis, revenue declined 6.5%, while GAAP net income increased to $13 million, or $0.07 per share, compared with a prior-year loss.

Xerox reported adjusted net income of $55 million, or $0.38 per share, while adjusted operating income increased to $203 million and adjusted operating margin expanded to 10.6%, up 690 basis points year over year.

The company reported improved earnings and cash flow results.

Operating cash flow increased to $37 million from a year earlier, while free cash flow reached $11 million, representing a $41 million improvement year over year.

Xerox also reported that second-quarter profitability included a $105 million pre-tax benefit from the recognition of IEEPA tariff receivables, which was excluded from operating cash flow and free cash flow.