SANTA CLARA, Calif. (AP) — In a story Oct. 30 about Rovi Corp., The Associated Press reported erroneously that Rovi is looking to sell its DivX video player business. The company says it is looking at strategic alternatives, including a sale.
A corrected version of the story is below:
Rovi posts 3rd-quarter profit and revenue decline
Rovi posts 3Q profit and revenue decline; looks at strategic options for DivX video player business
SANTA CLARA, Calif. (AP) — Rovi Corp., a provider of TV listings and other metadata, on Wednesday posted a third-quarter profit and revenue decline greater than Wall Street forecasts as it failed to close some major deals. It slashed its outlook and announced a strategic review of its DivX video player business. Its shares fell.
The net loss in the three months through Sept. 30 shrank to $11.5 million, or 12 cents per share, from a net loss of $13.3 million, or 13 cents per share, a year ago.
Excluding the amortization of intangible assets and other items, adjusted earnings came to 41 cents per share, below the 48 cents expected by analysts polled by FactSet.
Revenue fell 13 percent to $143 million from $163.7 million. That was also worse than the $152 million analysts were looking for.
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