Bloomberg News

TiVo Posts Fourth-Quarter Profit on Record Cable-TV Signups

February 26, 2014

TiVo Inc. (TIVO:US), a provider of TV set-top boxes, posted a fourth-quarter net income of $710,000, after adding a record 313,000 cable-TV subscribers.

Net income of 1 cent a share compared with a loss of $15.8 million, or 13 cents, a year earlier, San Jose, California-based TiVo said today in a statement. Sales rose 20 percent to $106.3 million in the quarter ended Jan. 31, missing the $112.6 million average of 17 analysts’ estimates.

The company last year introduced Roamio set-top boxes that integrate cable programming with Internet services such as Netflix Inc.’s $7.99 monthly subscription. TiVo has signed deals with European pay-TV operators to use the boxes and also is seeking pacts with U.S. operators.

TiVo was little changed in extended trading. The shares fell 2.6 percent to $12.83 at the close in New York. The stock has declined 2.2 percent this year.

To contact the reporter on this story: Cliff Edwards in San Francisco at cedwards28@bloomberg.net

To contact the editor responsible for this story: Anthony Palazzo at apalazzo@bloomberg.net


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Companies Mentioned

  • TIVO
    (TiVo Inc)
    • $13.7 USD
    • -0.06
    • -0.44%
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