Conduent, the New Jersey based company which used to be part of Xerox, is reporting its first quarter of earnings as a stand-alone company.
The company, which focuses on business services, saw adjusted operating income of $89 million. Earnings of 16 cents a share matched analysts’ average estimate.
Sales of $1.55 billion were slightly less than the analysts’ estimates.
But CEO Ashok Vemuri says the first quarter results were in line with the company’s expectations, reflecting the seasonality of the business and the ramp up of Conduent’s strategic transformation.