TiVo Q1 Results Top Estimates

(RTTNews) - TiVo Inc. (TIVO) reported net income for the first quarter of $7.9 million or $0.08 per share, compared to $8.1 million or $0.07 per share for the year-ago quarter. in the same quarter last year.

The latest quarter includes $1.8 million of tax affected interest expense for the convertible notes issued in September 2014, which was not included in the year-ago quarter. Excluding the additional interest expense, net income would have been up almost 20% year over year.

Service and technology revenues for the first quarter rose to $92.4 million from $86.0 million in the same quarter last year.

Analysts polled by Thomson Reuters expected the company to earn $0.07 per share on revenue of $91.35 million for the first quarter.

Looking forward to the second quarter, TiVo forecasts service and technology revenues of $94 million to $97 million and net income of $7 million to $10 million. Analysts currently expect the company to post revenue of $93.61 million for the second quarter.