The company’s effort to provide cable systems with a slick alternative to their clunky conventional DVRs seems to have paid off in the three months that ended in October. TiVo’s revenues increased 43% vs the period last year to $117.3M. That’s well above the Street’s expectation of $81.3M. The net income figure is skewed by the $78.4M windfall TiVo received from Verizon last year to settle a patent infringement suit. With that factored in, the $12.5M profit in Q3 is down 78.9% from last year. Still, the company’s earnings of 10 cents a share beat forecasts for 6 cents. Total subscriptions were +32.3% to nearly 3.9M as a 295,000 increase from pay TV services outweighed the 21,000 drop in the number of DVRs that receive service directly from TiVo. CEO Tom Rogers says that this was “the best quarter for TiVo subscription growth” since he began to position the company as a natural ally for cable and satellite companies. The company’s been especially successful with overseas providers including UK’s Virgin Media and Spain’s ONO. TiVo says that its revenues from services and technology in Q4 should rise about 30% to as much as $85M.
TiVo’s Cable Company Deals Help It To Beat Q3 Earnings Estimates
What's Hot on Deadline
Bernie Sanders: Obama Administration "Should Kill" The AT&T-Time Warner Deal: "Higher Prices & Fewer Choices"
'The Tonight Show Starring Jimmy Fallon' Showrunner Josh Lieb Departs For Uni TV Overall Deal, Trio Promoted To Run Show
Latest Business News
- Obamageddon The Final Ride: POTUS Now In L.A For ‘Kimmel’ & Last Fundraisers
- Why Does Time Warner Want To Sell To AT&T, And What Will It Mean For Media?
- More Than 100 Picketers Descend On Electronic Arts For SAG-AFTRA Strike
- Video Game Strike: Companies Cry Foul As SAG-AFTRA Picket Line Underway
- AMC Theatres Across The Country Teaming With CNN On Election Night
- Kristin Harris Named VP Acquisitions & Distribution At Good Deed Entertainment