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Rovi jumps after raising 2026 outlook on strong third-quarter beat

By Reuters News

** Shares in Rovi ROVI.MC jump about 8% after the Spanish pharmaceutical company reported better-than-expected third quarter results and increased its guidance for 2026

** Banco Sabadell broker said third-quarter EBITDA reached €105.4 million ($118.69 million), above €78 million consensus estimates and €83 million estimated by the broker

** Operating revenue for the full year is now expected to grow by a mid-to-high single-digit percentage, higher than the low-to-mid single-digit growth previously forecast, Renta4 broker said

** Renta4 highlighted Rovi's contract manufacturing business (CDMO) strong performance, where third-quarter revenue rose 51% year-on-year, benefiting from higher customer activity and contributions from its agreement with Bristol Myers Squibb

** Shares are on track for their best day since July 2023

($1 = 0.8880 euros)

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