Connected Car
However, Xperi still reported a loss of $297 million in the fourth quarter ending Dec. 31, 2022. “Our first quarter as an independent company was underscored by substantial market progress, notable design wins, and strong financial performance,” said Jon Kirchner, chief executive officer of Xperi. Connected car revenue in 2022 declined 5% YoY, Xperi says, primarily due to lower automobile production volumes that impacted its HD Radio revenue. “The automotive industry is making extensive investments in connected car as Internet connectivity is turning the cabin into a personal entertainment space. Xperi CFO Robert Anderson told the analyst call the company’s 2023 financial outlook is for revenue growth: “We expect full year revenue to be in the range of $510 million to $540 million.