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
For all of Deadline’s headlines, follow us @Deadline on Twitter
Sign up for Newsletters
Trending Now on Deadline
More From Lieberman
- Now That He's At Carmike, Can Bud Mayo Lead Theaters' Alternative Content Revolution?
- Cable Milestone: Operators Have More Broadband Subs Than TV Ones
- Look Out Gannett: Carl Icahn Buys 6.6% Stake
- Warren Buffett Sends A Mixed Message To John Malone As He Buys Into Charter But Unloads Starz
- Citing “Insulting” Criticism, Comcast And Time Warner Cable Withdraw Funding For Dinner Honoring FCC Commissioner
- Televisa Partners With MiTu To Develop Spanish-Language Digital Content