Rovi Corporation Posts Strong Earnings (ROVI)

Rovi Corporation

reports Q2 earnings of $0.55 versus estimates of $0.46. Rovi Corporation reports Q2 revenues of $134.8 million versus estimates of $129.48 million. Revenues increased 12.8% year over year. The company issued in-line guidance for FY 2010; they said that EPS would be in the range of $1.90 to $2.10. This compares to the Street estimate of $1.98 per share. "We completed another excellent quarter, growing revenue by 13% in Q2 2010, when compared to Q2 2009, and growing our profit by even more during the same period," said Fred Amoroso, President and CEO of Rovi. "In addition, we achieved a number of important business objectives, including winning additional business for TotalGuide, expanding our licensing program, growing advertising revenues, and continuing to retire debt." Shares of ROVI are higher in the after-hours by 3.42%.