XPER - Xperi shares plunge after profit miss and inline revenue forecast
Xperi (XPER) shares slide 9% after the Q4 results fell short on profit with $1.68 versus the $1.84 consensus. Revenue topped estimates with $433.9M, vs. $431.6M.Cash flow from operations was $298.2M with FCF of $296.8M.“Last year was transformative for Xperi. We closed our merger with TiVo, made significant progress on integration, and were able to achieve $45 million in run rate synergies by year end. Additionally, we closed one of the largest IP licensing deals in the history of both companies, took important steps to increase profitability on the product side of the business, and announced significant new product offerings,” says CEO Jon Kirchner. “As we enter 2021, we continue to build our IP licensing business and product business, positioning them for improved long-term growth, stability, and profitability.”The company guides FY21 revenue of $860-900M versus the $897M consensus with operating cash flow of $180-220M and FCF of $185-225.Press release. Xperi
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Xperi shares plunge after profit miss and inline revenue forecast