TiVo Beats Q2 Earnings Expectations And Share Prediction

The DVR pioneer today reported Q2 adjusted earnings of $115.4 million, which exceeded analysts’ expectations, and its loss of 9 cents a share was actually a penny better than assumed. Guidance had expected TiVo‘s earnings before taxes, depreciation and amortization to be in the range of a $1 million or even $2 million loss. In after-hours trading, the stock was up and down and is ahead 2.1% right now. Boosted by recent legal settlements, the company reported its highest quarterly net income in its history with a profit of $268.9 million in the quarter, or $1.96 a share, on revenue of $100.09 million. Today saw a marked change from the same period a year ago, when TiVo lost $27.7 million, or 23 cents a share, on $65.3 million in sales. “This was a very strong quarter for our business. We recorded the highest revenue and highest profit ever, continued positive momentum in our operator business, launched the new TiVo Roamio, which includes significant product enhancements that benefit both our retail and operator businesses, and we brought our pending litigation with Cisco and Motorola to an end, significantly strengthening our financial profile,” said TiVo president and CEO Tom Rogers in a statement. Today’s report come just less than three months after TiVo disclosed it had accepted $490 million in settling its patent-infringement suits with Motorola, Cisco, and Time Warner Cable. While that brings TiVo’s litigation settlements to $1.6 billion, the June amount was far less than had been anticipated. TiVo also reported a 33% rise in subscriptions over last year to 3.6 million customers. Tuesday’s report was for the period ending July 31.

Related: TiVo Launches Roamio DVRs

This article was printed from https://deadline.com/2013/08/tivo-meets-q2-revenue-expectations-beats-share-prediction-572507/