Rovi Corp. (ROVI) Posts Q2 GAAP Loss of $0.11/Share

Rovi Corp. (NASDAQ: ROVI) reported Q2 GAAP EPS of ($0.11), which does not compare to the analyst estimate of $0.31. Revenue for the quarter came in at $125.2 million versus the consensus estimate of $119.31 million.

“We are pleased to report that Rovi delivered stronger-than-expected Q2 results, due in part to the successful recent renewal of our IP License agreement with Verizon,” said Tom Carson, president and CEO of Rovi. “Rovi now has eight of the top 10 U.S. pay-TV providers under license, with six of those having entered into agreements in the last six quarters. We look forward to building on this momentum as we continue to engage with potential customers and licensees during the back half of the year.”

Mr. Carson continued, “We also achieved a key milestone in the TiVo transaction earlier this month when the Federal Trade Commission and the Antitrust Division of the Department of Justice granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act. We continue to anticipate closing the transaction in Q3, and look forward to reporting our third quarter results as the newly-combined TiVo Corporation.”

For earnings history and earnings-related data on Rovi Corp. (ROVI) click here.

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