BUSINESS BRIEFING / OFFICE EQUIPMENT
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Xerox Corp. met lowered expectations for first-quarter earnings, but it said slower spending on printing equipment and supplies continued to hurt sales.
The company earned $42 million, or 5 cents a share, in the quarter, topping Wall Street forecasts by a penny, according to Thomson Reuters.
It had a loss of $244 million, or 27 cents, a year earlier, when it had a hefty litigation charge.
Xerox shares rose 21 cents, or 3.7%, to $5.95.
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