Xperi reports Q4 EPS 11c, consensus 5c

Reports Q4 revenue $137.2M, consensus $140.2M. “Closing out our first full fiscal year as a standalone public company, we posted another quarter of solid financial results as we advanced our ongoing cost transformation efforts and delivered important design wins,” said Jon Kirchner, chief executive officer of Xperi. “We remain focused on building out our TiVo OS footprint as well as accelerating the deployment of our TiVo Video-over-Broadband and DTS AutoStage solutions. Our outlook for fiscal year 2024 indicates the progress we are making toward increased profitability, improved cash flow, and achieving our three-year targets for Xperi’s independent media platforms. During 2024, we will continue to drive strategic initiatives that further focus our business on significant opportunities in entertainment while working to enhance our ability to deliver sustainable, profitable growth. To that end, we completed the divestiture of the AutoSense and related imaging business and we recently initiated a formal process to evaluate strategic alternatives for the Perceive business.”