Xerox Holdings Corp Q2 2022 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Samik Chatterjee - JPMorgan Chase & Co, Research Division - Analyst : I had a couple. I guess, firstly, if I'm looking at your revenue guide for the year, which you reiterated, there's a $300 million improvement, second half to the first half, I think, in terms of revenues that you're guiding to. Was wondering if you can give me a breakdown of how much that is supply improvement-led sort of equipment revenue relative to some of the price increases on services that you talked about? If you can just give me a bit more of details around sort of the improvement that you're expecting in the second half. And then I have a follow-up.

Question: Samik Chatterjee - JPMorgan Chase & Co, Research Division - Analyst : Got it, got it. And the second question is more of a follow-up on -- to the comments that you have on Slide 6 about how the business fares in a recession. I'm just trying to understand those comments a bit better here where you say 2/3 of your business is contracted for multiple years and you go on to say there's contractual revenue risk in the near-term downturn. So maybe just if you can give more details there to help me understand that a bit better. Do you expect some of the contracts to be paused by your customers in a near-term downturn or sort of downsize? How you're thinking about sort of the contractual revenue risk for what you mentioned is 2/3 of your business and is contracted for multiple years?