Xperi lifts H2 outlook on renewed patent agreement with Comcast, strong Q3

News Video Global 10 NOV 2020
Xperi lifts H2 outlook on renewed patent agreement with Comcast, strong Q3

TiVo has signed a new 15-year patent licence agreement with Comcast. The companies had a previous contract, but it expired in 2016. The new one will run into 2031, providing broad coverage under TiVo’s patent portfolios. The agreement also resolves all outstanding litigation between the companies, who have been embroiled in patent disagreements for years. 

The announcement was included in quarterly results from TiVo parent Xperi. The higher results were boosted by the new licensing agreement with Comcast and the company raised its forecast for the second half. Revenues for Q3 rose to USD 202.8 million from 57.9 million, with revenue from licensing, services and software revenue jumping to 195.3 million from 57.7 million due to the merger of Xperi and TiVo. 

Total operating expenses also increased, to USD 221.8 million from 83.4 million, as did the net loss, which widened to USD 29.7 million from 15.6 million. The operating cash flow amounted to USD 62.2 million, and Xperi ended the quarter with USD 203 million in cash and investments. 

The company bought 2.8 million shares during the quarter, for a total of USD 35 million. It also paid USD 5.4 million to shareholders in September, for a quarterly cash dividend of USD 0.05 per share. Xperi will for this quarter also pay out USD 0.05 per share, in December. 

For the second half of the year, the company is now guiding for revenues of USD 625-645 million, up from its previous outlook of USD 390-410 million.

Categories:

Video,  Internet

Companies:

Comcast,  TiVo

Regions:

Global

Tags:

Sales figures, Financial figures, Contract & orders, Research and development

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