Xerox Corporation has released its financial results for the third quarter of 2025, posting revenue of $1.96 billion, an increase of 28.3 percent year-over-year, or 27 percent in constant currency. Despite strong revenue growth, the company recorded a GAAP net loss of $760 million, or $6.01 per share, with adjusted net income at $27 million, or $0.20 per share.
The company reported an adjusted operating margin of 3.3 percent, a decline of 190 basis points compared with the same quarter last year. Operating cash flow reached $159 million, and free cash flow improved to $131 million, reflecting year-over-year growth. Xerox also increased its expected synergy savings from the Lexmark International acquisition to at least $300 million, citing progress in integration and efficiency initiatives.
While acknowledging ongoing macroeconomic pressures, Xerox stated that operational improvements are helping position the company for stronger profitability and continued cash flow generation heading into 2026.
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