
TiVo (TIVO) Stock Falls in After-Hours Trading Following Earnings Report
NEW YORK (TheStreet) -- Shares of TiVo (TIVO) - Get Report were falling 0.99% to $9.01 after-hours on Tuesday after the company reported its financial results for the second quarter of fiscal 2016.
TiVo reported earnings of 9 cents a share for the fiscal second quarter, in line with analysts' estimates for the quarter. The company reported revenue of $119.45 million for the quarter, up from $111.86 million in the year-ago quarter, and above analysts' estimates of $95.97 million.
Service and software & technology grew 14% year over year to a record $99.1 million in the quarter. TiVo said it expects to report service and software and technology of $100 million to $103 million in the fiscal third quarter.
"We executed well in the second quarter, delivering revenue and Adjusted EBITDA ahead of guidance, including a 48% year-over-year growth in MSO service revenue," President and CEO Tom Rogers said in a statement. "Additionally, we continued to see progress in our retail business with a 37% year-over-year increase in TiVo-Owned gross additions."
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:
"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 expanding profit margins. However, as a counter to these strengths, we also find weaknesses including disappointing return on equity, weak operating cash flow and a generally disappointing performance in the stock itself."
You can view the full analysis from the report here: TIVO Ratings Report









