TiVo Q2 Profit Meets Views

reported in-line earnings for the second quarter. The San Jose, California-based company reported quarterly net income of $8.3 million, or $0.09 per share, compared to $9.3 million, or $0.08 per share, in the year-ago quarter. TiVo's net revenue climbed to $119.5 million from $111.9 million. Its service and software & technology revenue climbed to $99.1 million in the latest quarter, versus $86.6 million in the year-ago quarter. Analysts were expecting earnings of $0.09 per share on revenue of $95.97 million. The average estimate among 7 Estimize users was for earnings of $0.10 per share and revenue of $118.05 million. Its adjusted EBITDA rose to $32.4 million, from $29.9 million. Tom Rogers, President and CEO of TiVo, said, "We executed well in the second quarter, delivering revenue and Adjusted EBITDA ahead of guidance, including a 48% year-over-year growth in MSO service revenue. Additionally, we continued to see progress in our retail business with a 37% year-over-year increase in TiVo-Owned gross additions." "In North America, we had another strong quarter with MSO cable subscription additions growing 56% year-over-year and representing approximately half of our 284,000 MSO cable subscription additions in the quarter. Importantly, subscriptions in the U.S. typically have higher associated ARPUs compared to those associated with our international distribution partners," Rogers added. For the third quarter, TiVo expects service and software & technology revenue of $100 million to $103 million. TiVo shares rose 1.10 percent to $9.20 in the after-hours trading session.