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Xperi's Q2 revenue dropped 11.4% to $105.9mln, missing the $115.9mln analyst estimate. Non-GAAP EPS was $0.11, two cents below the $0.13 consensus. User and device growth was strong, with TiVo One monthly active users rising by 1.2mln. Management cut full-year revenue guidance by $40mln and lowered profit margin targets.

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