Rovi Earnings: Here’s Why Shares are Down Now
Rovi Corporation (NASDAQ:ROVI) delivered a profit and met Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 4.44%.
Rovi Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 2.22% to $0.46 in the quarter versus EPS of $0.45 in the year-earlier quarter.
Revenue: Decreased 7.53% to $146.4 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Rovi Corporation reported adjusted EPS income of $0.46 per share. By that measure, the company missed the mean analyst estimate of $0.46. It missed the average revenue estimate of $152.85 million.
Quoting Management: “We continue to make good progress realigning the business around our core operations,” said Tom Carson, President and CEO of Rovi. “The sales of both the Rovi Entertainment Store and the Consumer Website businesses are important steps to continue sharpening our focus on driving growth in service provider and other related business.”
Key Stats (on next page)…