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.