Rovi (ROVI +8.6%) is sharply higher following its Q3 beat, which was accompanied by Q4 revenue...
Friday, November 2, 2012, 1:53 PM ETRovi (ROVI +8.6%) is sharply higher following its Q3 beat, which was accompanied by Q4 revenue guidance of $660M-$670M (favorable to a $661.6M consensus). Rovi's Q3 restructuring efforts, which it claims yielded $31M in annual cost savings, have much to do with its EPS strength. Soft TV/DVD player demand remains a problem (previous): Rovi noted on its earnings call that sales to consumer electronics vendors fell 17% Y/Y, and that "headwinds" remains for its CE and analog content protection ops.
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