Xerox Corp beat estimates in its fourth quarter results helped by its services division and cost reductions. 

Revenue fell by 3% from the previous year to a year to $4.22 billion and Chief Executive Ursula Burns said the top line "will continue to be under pressure until there is a more sustainable economic recovery." Xerox is focusing on building its services division as sales of printing equipment decline.

Xerox is also trying to control costs to buoy profit, cutting about 9 percent of total expenses last quarter, which helped it record net earnings of $180 million. Xerox also expanded its services in September by paying about $6 billion for business-software provider Affiliated Computer Services.