Xerox reported its first net loss since the first quarter of 2010.
In all, Xerox stock has lost more than a quarter of its value this year.
Last week, Xerox competitor Lexmark said it was exploring strategic options as well.
Xerox Corp said it plans to "review its businesses and capital allocation options," but that the company would not consider a sale.
"One of the things that we are not currently considering is the sale of the company, but all other options will be looked at as we progress through this review," Chief Executive Ursula Burns said.
Xerox has been shifting its focus over the last few years to try to adjust to a changing business environment. The company recently announced it would reorganize its government healthcare IT business. But some say the 109-year-old company is not doing enough.
"They are not transitioning fast enough," said Ivan Feinseth, Tigress Financial Partners analyst. "They have to evolve into a new type of company. Otherwise they will go the way of Eastman Kodak."
The company also cut 1,780 jobs so far in 2015.