TiVo (TIVO) Reports Q1 Loss of $0.29

TiVo (NASDAQ: TIVO) reported Q1 EPS of ($0.29), versus ($0.22) reported last year. Revenue for the quarter came in at $206 million versus the consensus estimate of $105.85 million.

“Our strong Q1 financial results affirm last year’s acquisition that formed the new TiVo,” said Tom Carson, President and CEO of TiVo. Mr. Carson added, “Vodafone Spain’s rollout of our most advanced television experience demonstrates the product leadership and innovation that excited us about the TiVo acquisition and we’re pleased with this deployment. Additionally, the long-term IP agreement with Roku demonstrates the value of the company’s patent portfolios in the OTT space. We are well on the way to fully integrating the two companies’ product lines and continue on schedule to deliver at least $100 million in cost synergies, with 65% coming from actions taken within 12 months of the closing of the transaction.”

Mr. Carson added, “We remain confident in TiVo’s ability to continue to generate substantial positive cash flows. As such, TiVo will pay its second quarter cash dividend of $0.18 per common share in June.”

GUIDANCE:

TiVo sees FY2017 revenue of $800-835 million.

For earnings history and earnings-related data on TiVo (TIVO) click here.

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