Scalper1 News
D igital video recorder maker TiVo (TIVO) late Tuesday recorded better-than-expected sales and profit for its fiscal first quarter, helped by higher subscriptions. The San Jose, Calif.-based company earned 8 cents a share, up 14% year over year, on sales of $92.4 million, up 7%, for the quarter ended April 30. Analysts polled by Thomson Reuters expected TiVo to earn 7 cents a share on sales of $91.5 million. TiVo stock was up nearly 4%, near 11, in morning trading in the stock market today. TiVo stock hit a four-year high of 14.29 last August. TiVo ended Q1 with 5.8 million subscribers, up 27%. Its revenue from multiple-system operators (companies that run multiple cable or direct broadcast satellite TV systems) rose 41%. “During the quarter, we continued to add MSO subscriptions at a rapid pace and delivered the best first quarter of TiVo-owned net subscription additions… Scalper1 News
Scalper1 News