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Thursday, Sep 29, 2022
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DivX Stock Bounces Up

DivX Inc., a San Diego maker of video compression software, saw its stock soar nearly $4, or 33 percent, on Nov. 6 to close at $15.89 after the company reduced its earnings, but raised revenue expectations for this year.

In early trading Nov. 7, DivX, traded under DIVX on Nasdaq, was at $15.77.

DivX said it expects earnings per share to come in this year between 11 and 13 cents, down from an earlier estimate between 12 and 15 cents per share.

However, the company revised its revenue outlook to come in between $82.4 million and $83.4 million, up from the earlier forecast between $80.5 million and $82.5 million.

While the stock jump was considerable, it was still far off its initial offering price of $20, in October 2006, and its high later that year, which exceeded $30.

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, Mike Allen

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