TiVO Rises After Slight Earnings Beat

Shares of

are up more than one percent in after hours trading following news of the firm's slight earnings beat. TiVo reported an adjusted second quarter EPS of $(0.09) versus the Street estimate of $(0.10). The company also reported revenue of $100.1 million (up 85 percent year-over-year), but it may not compare to the Street's estimate of $71.48 million. TiVo set a new record for quarterly income, which came to $268.9 million. User subscriptions climbed to 3.6 million -- a 33 percent increase year-over-year. TiVo also stated that its monthly ARPU is currently at $8.81. "TiVo has now reached a very important milestone," Tom Rogers, President and CEO of TiVo, said in a

. "After making significant progress over the last several years, amid scrutiny for not being net income profitable, we believe TiVo has now achieved the milestone of sustained net income profitability."

Rogers said that the company's latest litigation settlements -- which include

and

-- will produce "significantly increased licensing revenue well into the future." He added that the settlements have "substantially increased our cash resources." In addition to Google and Cisco (who will pay TiVo $490 million to settle their patent disputes), TiVo also continues to generate income that resulted from settlements with

,

and

. "This was a very strong quarter for our business," Rogers continued. "We recorded the highest revenue and highest profit ever, continued positive momentum in our operator business, launched the new TiVo Roamio, which includes significant product enhancements that benefit both our retail and operator businesses, and we brought our pending litigation with Cisco and Motorola to an end, significantly strengthening our financial profile." Roamio is the

of TiVo's digital video recorder. The product, which was introduced earlier this month, was one of many announcements the company has made this year. In June, TiVo began to

to customers of Mediacom, the eighth-largest cable provider in the U.S. During the spring TiVo unveiled

, a companion device that allows users to bring DVR content to multiple rooms without having to purchase several traditional TiVo boxes. Disclosure: