TiVo Inc. (NASDAQ:TIVO) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 2%.
TiVo Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $1.96 in the quarter versus EPS of $-0.23 in the year-earlier quarter.
Revenue: Rose 17.99% to $77 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: TiVo Inc. reported adjusted EPS income of $1.96 per share. By that measure, the company beat the mean analyst estimate of $-0.10. It beat the average revenue estimate of $71.48 million.
Quoting Management: Tom Rogers, President and CEO of TiVo, said, “TiVo has now reached a very important milestone. After making significant progress over the last several years, amid scrutiny for not being net income profitable, we believe TiVo has now achieved the milestone of sustained net income profitability. As a result of the latest litigation settlements, which will produce significantly increased licensing revenue well into the future and which have substantially increased our cash resources, along with our continued focus on innovation as demonstrated by the highly acclaimed Roamio launch, and the expected continued growth of our MSO subscription base, TiVo has reached a brand new chapter in its financial performance that puts the Company on an entirely new trajectory.
Key Stats (on next page)…