TiVo's Quarterly Revenue Rises About 7 Percent

Digital video recorder maker TiVo’s quarterly revenue rose about 7 percent, helped by higher subscriptions.

The company’s net subscriber additions rose to 340,000 in the fourth quarter ended Jan. 31, from 319,000 a year earlier.

TiVo’s net income increased to $7.1 million, or seven cents per share, from $710,000, or one cent per share, a year earlier.

Net revenue rose to $114.1 million from $106.3 million.

Analysts polled by Thomson Reuters estimated earnings of four cents per share for the quarter.

“Total TiVo subscriptions now stand at almost 5.5 million, nearly 1.3 million more than at this time last year,” said CEO Tom Rogers in a statement. “During the quarter we made significant strides building new distribution relationships and expanding existing ones, including announcements with Frontier and Vodafone/ONO.”

(Reporting by Subrat Patnaik in Bengaluru; Editing by Kirti Pandey)

This article originally appeared on Recode.net.

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