UPDATE: Xerox Reports Surge In Q4 Profit

Xerox Corp (NYSE: XRX) reported a rise in its fourth quarter profit.

Xerox's quarterly profit surged to $375 million, or $0.26 per share, from $171 million, or $0.12 per share, in the year-ago period. Its revenue fell to $5.96 billion, from $5.98 billion. However, analysts were expecting earnings of $0.33 per share on revenue of $6.07 billion.

Xerox shares fell 0.35% to $8.64 in pre-market trading.