TiVo performs better than expected
Service and technology revenue grew 39% year-over-year and Adjusted EBITDA increased by over $25 million. For the first quarter, service and technology revenues were $86 million. This compared to guidance of $85 million to $87 million and $61.8 million for the same quarter last year.
TiVo reported Adjusted EBITDA of $26.9 million, compared to Adjusted EBITDA guidance of $22 million to $25 million, and compared to Adjusted EBITDA of $801,000 in the same quarter last year. Net income was $8.1 million, compared to guidance of $5 million to $8 million and a net loss of $(10.3) million in the same quarter last year.
TiVo repurchased $110 million of stock during the quarter, bringing total stock repurchases to approximately $225 million over the last 15 months.
For the second quarter of Fiscal Year 2015, TiVo anticipates service and technology revenues in the range of $86 million to $88 million.
TiVo expects Adjusted EBITDA to be in the range of $27 million to $30 million and net income to be in the range of $6 million to $9 million. ■