TiVo Revenues Shoot Up 29%

TiVo, formerly Rovi Corp., witnessed strong revenue gains in the third quarter.

The interactive program guide/DVR company reported a 29% gain to $197.9 million. Much of this came from higher revenues due to the closing of the TiVo deal in September 2016.

In April 2016, Rovi, the interactive electronic guide company, acquired the DVR set-top box/TV research company for $3 billion — and renamed the company TiVo.

For the third quarter, TiVo posted a $17 million net loss, compared to net income of $49.9 million for the third quarter of 2016. That earlier period of a year ago included an $83.4 million tax benefit.

For fiscal year 2017, the company expects a revenue range of $810 million to $830 million, which includes about $35 million of hardware revenues.

Some 23 million subscriber TV homes globally use TiVo's television technology.

Recently, TiVo said it struck a deal with Discovery Communications using TiVo’s Audience Works for Marketing platform to manage and execute Discovery’s on-air promotions and cross-channel media plans.

Earlier this year, Sony struck a deal to license TiVo and Rovi patents, which allowed customers of Sony to access TiVo's entertainment metadata and other products.

Friday morning trading of TiVo’ stock was down 3% to $17.40.

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