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NEW YORK (TheStreet) -- Shares of TiVo  (TIVO) - Get TiVo Corp. Report are up by 4.62% to $9.74 in pre-market trading on Wednesday morning, following the release of the company's third quarter earnings results after the close on Tuesday afternoon.

The San Jose-based television software services provider reported third quarter net income of $5.3 million, or 10 cents per share on an adjusted basis versus analysts' 8 cents per share expectations.

Revenue for the period rose by 12% year over year to $132.3 million, topping the company's own guidance between $100 million and $103 million and also beating analysts' expectations of $124 million in revenue.

The company added 429,000 subscriptions during the quarter -- a record for the company -- giving it a total of 6.5 million subscribers, a 26% increase over the year ago period.

Separately, TheStreet Ratings team rates TIVO INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:

TheStreet Recommends

We rate TIVO INC (TIVO) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, reasonable valuation levels and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, deteriorating net income and generally higher debt management risk.

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Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of Jim Cramer, TheStreet or any of its contributors.