TiVo misses 4Q profit forecasts

TiVo posts 4Q profit of $9.8 million, result misses forecasts

SAN CARLOS, Calif. (AP) _ TiVo Inc. (TIVO) on Wednesday reported fourth-quarter net income of $9.8 million.

On a per-share basis, the San Carlos, California-based company said it had profit of 8 cents. Earnings, adjusted for amortization costs and stock option expense, came to 45 cents per share.

The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 54 cents per share.

The digital video recording company posted revenue of $252.3 million in the period.

For the year, the company reported net income of $21.7 million, or 23 cents per share, swinging to a profit in the period. Revenue was reported as $489.6 million.

TiVo expects full-year revenue in the range of $800 million to $835 million.

TiVo shares have declined roughly 9 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $19.10, a decrease of 10 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TIVO at https://www.zacks.com/ap/TIVO

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Keywords: TiVo, Earnings Report

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