TiVo benefits from deals, partnerships as Q2 revenue increases to $119 mln
TiVo Inc. on Tuesday reported net income of $8.3 million, or 9 cents per share, down from $9.3 million, or 8 cents per-share in the year prior period. Per share earnings were in line with the FactSet consensus of 9 cents. Revenue increased to $119 million from $112 million a year ago, and was just above the FactSet consensus of $117 million. TiVo Chief Executive Tom Rogers said the company benefited from a number of deals and partnerships, including Vodafone Spain's efforts to significantly market its TV offering including TiVo as a bundled package to mobile customers. Earlier Tuesday TiVo said it would partner with the National Cable TV Cooperative to provide technology and services to cable operators. Shares of TiVo are down more than 23% in the year to date. The S&P is down 4%.
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