Tax Gain Doubles Net Income at Xerox
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Xerox Corp. said a $343-million tax gain doubled second-quarter net income to $423 million, or 40 cents a share, from $208 million, or 21 cents, a year earlier. Stamford, Conn.-based Xerox said revenue rose 2% to $3.9 billion.
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* American Express Co. said second-quarter profit rose 16% as it added cardholders through partnerships with companies such as MBNA Corp. and as customers traveled more. Net income climbed to $1.01 billion, or 81 cents a share, from $876 million, or 68 cents, a year earlier. Revenue rose 11% to $8 billion.
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