Xerox Holdings Corp. XRX +0.65% shares rose by 4.3% before the market opened on Tuesday, after their adjusted profit exceeded analyst expectations. Xerox’s second-quarter loss widened from $4 million to $61 millions, or 41 cents per share. This compares with a loss of $5 million or 5 cents per share in the previous quarter. Xerox increased its adjusted profit from 13 cents a piece to 44 cents apiece for the quarter ended June 30, compared with the same period last year. According to FactSet estimates, the company exceeded analyst expectations of 32 cents per share. Xerox revenue increased slightly from $1.747 to $1.754 Billion, which was in line with analyst expectations of $1.754 Billion. Xerox expects its revenue in 2023 to be flat or down by low single-digits, in constant currency. Analysts expect 2023 revenues to fall to $6.99 billion from $7.12 in 2023. Adjusted operating income margin is expected to increase to a range of 5.5% to 6%, from a range of 5% to 5.5%, “due to a stronger-than-expected realization of operating efficiencies and revenue mix,” the company said.