Xperi Holding Corporation Announces Second Quarter 2020 Results
Summary
SAN JOSE, Calif.--(BUSINESS WIRE)--Xperi Holding Corporation (Nasdaq: XPER) (the “Company” or “we”) today announced financial results for the second quarter ended June 30, 2020. Following the merger, Xperi’s new board reviewed the Company’s capital allocation policy and established a target to return approximately 50% of free cash flow to stockholders, consistent with historical levels. Additionally, the board determined to take a more balanced approach to capital allocation, providing for increased stock buybacks and debt paydown relative to cash dividends. These forward-looking statements are based on the Company’s current expectations, estimates and projections about the Company’s financial results, forecasts, and business outlook, the benefits of the merger with TiVo and progress on integration efforts, and the Company’s anticipated capital allocation strategy. The Company does not assume any obligation to publicly provide revisions or updates to any forward-looking statements, whether as a result of new information, future developments or otherwise, should circumstances change, except as otherwise required by securities and other applicable laws.