shares of xerox holdings corp xrx dropped 37 in premarket trading tuesday after the printer and copier maker reported thirdquarter profit that rose above expectations but revenue that surprisingly declined as deterioration in supply chain conditions and the delta variant caused delays in clients plans to return employees to the workplace net income was 90 million or 48 cents a share after 90 million or 41 cents a share in the yearago period excluding nonrecurring items adjusted earnings per share came to 48 cents above the factset consensus of 43 cents revenue slipped to 176 billion from 177 billion below the factset consensus of 181 billion cost of sales rose 46 to 498 million to lower gross margin to 324 from 368 the company lowered its 2021 revenue outlook to approximately 71 billion compared with the factset consensus of 726 billion separately the company set a new 500 million share repurchase program following the completion of an expected 500 million buyback program in 2021 the stock has slumped 129 over the past three months through monday while the sp 500 spx has gained 33