TiVo Earnings: TIVO Stock Sinks as Q4 Revenue Misses Guidance

Shares were sinking more than 11% after hours

TiVo (NASDAQ:TIVO) reported its latest quarterly results late on Tuesday and the company brought in a loss following a profit in the year-ago quarter, while its revenue for the period fell year-over-year and missed what Wall Street analysts were calling for.

TiVo EarningsThe digital rights management company, based out of San Jose, Calif., brought in fourth-quarter losses of $2.33 per share to end its fiscal 2018. In the year-ago quarter, the company posted a profit of 28 cents per share.

TiVo added that its revenue for the period tallied up to $168.46 million, a drop of more than 21% when compared to its sales from the fourth quarter of its fiscal 2017. Analysts were calling for the company to bring in revenue of $173.85 million.

The company added that it amassed $7.3 million in revenue from out-of-license settlements, a 62.8% drop when compared to its sales from out-of-license settlements of $19.6 million during the year-ago quarter. Total costs and expenses were up due to a $269 million goodwill impairment charge in regards to its Product reporting unit, although a lower amortization of intangible assets offset these expenses.

“In the quarter, we continued to advance our strategic goals, focusing on our five pillars for growth along with a continued focus on profitability. Further, at CES, we demonstrated, to select partners, a unique entertainment discovery experience for the internet age and received very promising feedback,” said Raghu Rau, Interim President and CEO. “We are very excited about the prospects for our long-term growth strategy.”

TIVO stock is down 11.1% after hours on Tuesday. Shares were largely unmoved during regular trading hours, gaining a fraction.


Article printed from InvestorPlace Media, https://investorplace.com/2019/02/tivo-earnings-tivo-stock/.

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