Xperi Corporation (NASDAQ: XPER) reported Q2 EPS of $, versus $0.54 reported last year. Revenue for the quarter came in at $100.7 million versus the consensus estimate of $101 million.

“During the second quarter, we continued to make progress on our financial goals for the year and our long-term targets. We delivered billings in line with our expectations and lower than expected operating expenses which generated $34.6 million in operating cash flow. In product licensing, we made significant progress around a number of strategic initiatives, including the expected commercial launch of DTS Connected Radio with a global automotive brand in 2019,” said Jon Kirchner, chief executive officer of Xperi. “On the IP licensing side, several licensing discussions have progressed positively over the past quarter, we have added new engagements to the pipeline, and we believe we are well positioned to resolve at least one of our outstanding licensing discussions prior to the end of the year.”

GUIDANCE:

Xperi Corporation sees FY2018 revenue of $415-445 million, versus the consensus of $430 million.

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