TiVo (TIVO) Reports In-Line Q2 EPS, Offers Q3 Guidance
TiVo (NASDAQ: TIVO) reported Q2 EPS of $0.09, in-line with the analyst estimate of $0.09. Revenue for the quarter came in at $99.1 million versus the consensus estimate of $95.97 million. Adjusted EBITDA was $32.4 million, exceeding guidance.
TiVo sees Q3 revenue of $100 - $103 million, versus the consensus of $98.22 million.
TiVo expects Adjusted EBITDA, excluding litigation expense, to be in the range of $28 million to $31 million and Net Income to be in the range of $5 million to $7 million.
Included in the third quarter Adjusted EBITDA excluding litigation expense and Net Income guidance is approximately $5 million of increased TiVo-Owned subscription acquisition spend as we both market a new product, which will be launching in the third quarter, and anticipate increased hardware loss from higher unit sales.
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