TiVo shares were up around 4.5% in after-hours trading after the DVR pioneer announced its Q2 results today. In its second quarter, which ended July 31, 2012, TiVo reported a loss of $27.74 million compared to a loss of $19.55 million in the same period last year. That’s 23 cents a share vs. 17 cents a share in the same quarter a year ago. That 23 cents is better than the 24 cents, Wall Street had been predicting. Subscriptions for TiVO, across a variety of partners, rose by 230,000 in Q2. That’s 41% better than TiVo did in the same quarter last year. revenue rose to $65.6 million, up 7% from last year and the company’s Q2 service and technology revenues were up 10% year-over-year to $54.1 million. That was about $400,000 less than estimated. Adjusted EBITDA (earnings before interest, tax, depreciation and amortization) was a loss of $15.8 million. That was under the cash flow guidance of a loss of $16 to $18 million, and to an Adjusted EBITDA loss of $9.2 million in Q2 last year.
Operating expenses were $64.7 million, which included $12.8 million in litigation expenses. While still dealing with litigation costs the company has also has payments coming in from the successful intellectual property lawsuits it has settled over the last year. TiVo will be getting $500 million from Dish Network and EchoStar Corp. It will also be getting $215 million from AT&T in a suit settled earlier this year. Those payments are expected to be paid over several years. A patient case against Verizon is going to trial in October and the company has pending litigation against Time Warner Cable, Cisco and Motorola. “Our recent revenue and subscription growth speaks for itself and we fully expect MSO revenue growth to continue to benefit from the increasing distribution of TiVO,” said Tom Rogers, TiVO President and CEO in a conference call following the results release today. “Certainly we believe the future looks bright for TiVO,” he added.