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TiVo Inc. (NASDAQ:TIVO) had a loss and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 2.43%.
TiVo Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.13 in the quarter versus EPS of $0.06 in the year-earlier quarter.
Revenue: Decreased 1.16% to $65.7 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: TiVo Inc. reported adjusted EPS loss of $0.13 per share. By that measure, the company missed the mean analyst estimate of $-0.11. It beat the average revenue estimate of $64.78 million.
Quoting Management: Tom Rogers, President and CEO of TiVo, said, “We made significant progress in our business during Fiscal Year 2013, culminating with Adjusted EBITDA profitability, excluding litigation expense for the fourth quarter. We achieved success in five key areas during the last year. First, we drove expanded deployment in our current distribution deals, increasing the total number of TiVo subscriptions by almost one million over the course of Fiscal Year 2013. Second, we continued to increase our footprint both internationally and domestically, forging important new operator deals with Com Hem, Cable ONE, Midcontinent, Mediacom, and GCI. Third, we saw significant additional upside from litigation as we reached a favorable settlement with Verizon, bringing total damages and consideration from our intellectual property actions to more than $1 billion to date. Fourth, we reduced our R&D in the second half of the year from its peak in the first quarter of Fiscal Year 2013. Lastly, we continued to define the future of television through the launch of new whole-home and multi-screen TiVo offerings.”
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