RTTNews | Nov 10, 2020 10:18AM EST

10:17 Tuesday, November 10, 2020 (RTTNews.com) - Shares of Xperi Holding Corporation (XPER) are rising more than 20% Tuesday morning after the company raised its second-half revenue outlook.

Xperi currently expects second half adjusted revenue to be in the range of $625 million to $645 million, up form $390 million to $410 million provided earlier.

The company's third-quarter net loss narrowed to $29.75 million or $0.28 per share from net loss of $15.61 million or $0.32 per share in the same quarter a year ago.

Adjusted earnings in the third quarter of $0.19 per share missed the average estimate of analysts polled by Thomson Reuters at $0.20 per share. Revenue for the quarter increased to $202.8 million from $57.87 million in the same quarter a year ago, on a jump in licensing, services and software revenue. The consensus estimate was for $202.8 million.

Xperi delivers various technologies in areas of automotive, home solutions, mobile, pro audio and content solutions, semiconductor technologies, and intellectual property markets.

XPER is currently trading at $16.82. It has been trading in the range of $9.01- $21.42 in the ast 52 weeks.

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