Why Xperi Holding Stock Skyrocketed Today

Shares of Xperi Holding (NASDAQ: XPER) spiked Tuesday after the company reported better-than-expected third-quarter results yesterday. 

The tech stock's share price jump by as much as 27.4% during today's trading and had gained 23.5% as of 1:54 p.m. EST.

Xperi Holding reported third-quarter revenue of $202.8 million, which represented a 250% year-over-year increase, and surpassed Wall Street's consensus revenue estimate by about 9%. Additionally, the company's adjusted diluted earnings per share of $0.19 outpaced some analysts' estimates of $0.12 per share for the quarter.

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Source Fool.com