Xperi Corporation (XPER - Free Report) is set to release third-quarter 2019 results on Nov 6, after the bell.
Notably, upon introduction of the revenue accounting standard, ASC 606, the company uses billings as a key measure of business progress.
The Zacks Consensus Estimate for billings in the to-be-reported quarter is pegged at $90.4 million, indicating year over year decline of 10.1%. Billings are likely to have declined in IP licensing and mobile markets due to trade issues and expected delay in agreements. This decline is expected to have been offset to some extent by strength in automotive and home markets.
Automotive is likely to have benefited from continued penetration of the HD Radio and receipt of NRE relating to the company’s development of driver monitoring system solutions. Increased penetration of DTS:X, DTS:X Pro, Virtual:X and Stereo Plus is expected to have driven billings in the home market.
We observe that shares of the Xperi have rallied 16.2% year to date, outperforming 12.6% rally of the industry it belongs to.
The company currently carries a Zacks Rank #3 (Hold).
You can see the complete list of today’s Zacks #1 Rank stocks here.
Investors interested in the broader Zacks Business Services sector are awaiting third-quarter 2019 earnings of key players like Fiserv (FISV - Free Report) , ICF International (ICFI - Free Report) and FLEETCOR Technologies (FLT - Free Report) , each scheduled to release results on Nov 6.
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