U.S. Markets open in 6 hrs 54 mins

Will Xperi (XPER) Witness Billings Decline in Q3 Earnings?

Zacks Equity Research

Xperi Corporation XPER 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.

Upcoming Releases

Investors interested in the broader Zacks Business Services sector are awaiting third-quarter 2019 earnings of key players like Fiserv FISV, ICF International ICFI and FLEETCOR Technologies FLT, each scheduled to release results on Nov 6.

Biggest Tech Breakthrough in a Generation

Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.

A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.

See 8 breakthrough stocks now>>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Tessera Holding Corporation (XPER) : Free Stock Analysis Report
FleetCor Technologies, Inc. (FLT) : Free Stock Analysis Report
Fiserv, Inc. (FISV) : Free Stock Analysis Report
ICF International, Inc. (ICFI) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research