TiVo Gets Back in the Black

Recent settlements, MSO-driven subscription growth help TiVo swing to a Q2 profit of $268.9 million
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MSO-based subscription growth and income tied to recent financial settlements with Google and Cisco Systems helped TiVo swing to record profits of $268.9 million ($1.96 per share) in the fiscal second quarter on net revenues of $100 million.

TiVo, which lost $27.7 million on revenues of $65.3 million in the year-ago quarter, said it "achieved the milestone of sustained net income profitability."

TiVo added a 212,000 net new subscribers in the quarter, versus 230,000 in the year-ago period. It added 238,000 net customers through MSO partnerships, giving it 3.6 million in the category. As a result, MSO service revenue rose 58% in the second quarter.

Click here to read the full story at Multichannel.com.

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