Xperi Corporation (NASDAQ: XPER) reported Q1 EPS of $0.59, $0.12 better than the analyst estimate of $0.47. Revenue for the quarter came in at $221.6 million versus the consensus estimate of $221.62 million.

First Quarter 2021 Financial Highlights:

• Revenue of $221.6 million.
• Cash Flow from Operations of $26.7 million.
• Adjusted Free Cash Flow1 of $29.7 million.
• GAAP earnings per share of $0.05 and Non-GAAP earnings per share of $0.59.
• Bought back $25 million of common stock.
• Increased stock repurchase authorization by $100 million, bringing the total current amount available to $155 million.

“Revenue for the first quarter was in line with our expectations, marking a strong start for the year and placing us on track to realize our full year financial outlook,” said Jon Kirchner, chief executive officer of Xperi. “Importantly, we made material progress on each of our strategic initiatives in our IP and product segments, and we expect continued strong execution throughout the balance of the year.”

GUIDANCE:

Xperi Corporation sees FY2021 revenue of $860-900 million, versus the consensus of $878.98 million.

For earnings history and earnings-related data on Xperi Corporation (XPER) click here.