Pitney Bowes reports $983m Q1 revenue
Pitney Bowes has reported that its revenue for the first quarter (Q1) of 2018 was $983m.
This was an increase of 18% as reported and 15% at constant currency versus prior year.
Revenue for the Commerce Services group, which includes the Global Ecommerce and Presort Services segments, grew 73% as reported and 71% at constant currency.
Small and Medium Business (SMB) Solutions revenue declined 6% as reported and 8% at constant currency. Software Solutions revenue increased 4% as reported and 1% at constant currency. Production Mail revenue increased 9% as reported and 6% at constant currency.
In a statement issued today (2 May), Marc B. Lautenbach, President and CEO, Pitney Bowes, said: “Our performance continues to show that Pitney Bowes is moving to growth and our strategy is delivering results.
“Revenue was strong in the quarter as our business continues to shift to the higher-growth markets. Our first quarter results demonstrate that we are making progress which sets us up to deliver our financial commitments for the year.”
The company also noted that has signed a definitive agreement for the sale of its Document Management Technologies (DMT) production mail business to Platinum Equity for $361m.