• by Wayne Friedman , March 4, 2015

On a day when the broad stock market was down -- as well as virtually all media stocks -- TiVo’s stock posted strong gains, largely due to overperforming financial results.

TiVo’s stock was up 2.5% in mid-day trading to $11.53.

TiVo added 30% more subscriptions in its fiscal fourth quarter ending January 31, posting a net income of $7.1 million up tenfold from the $710,000 in fourth-quarter 2013. Net revenues gained 7% to $114.1 million, while services/technology revenue grew 9% to $91.7 million.

TiVo posted a total of 340,000 net additions -- 324,000 (a 40% gain) coming from traditional pay TV providers and a 16,000 net addition for TiVo-owned customers. Total TiVo subscriptions now stand at almost 5.5 million, nearly 1.3 million more than at this time last year.

The company over-delivered on its service/technology revenue and earnings results, projecting $2 million to $5 million in net income and $87 million and $90 million in service/technology revenue.

Looking forward, TiVo looks to business gains with telco TV operators.

“We recently announced a partnership with Frontier Communications one of the largest telecom operators in the U.S. The company has 2.7 million customer relationships today and will roughly double in size following the close of its proposed transaction with Verizon,” the company stated.