TiVo Posts $268.9 Million Quarterly Profit on Legal Settlements
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TiVo Inc., the digital-video recorder pioneer, reported a second-quarter profit of $268.9 million, boosted by legal settlements, and forecast earnings to continue through this year and in fiscal 2015.
Net income of $1.96 a share included $490 million from lawsuits with Cisco Systems Inc. and Google Inc.’s Motorola Mobility, San Jose, California-based TiVo said yesterday in a statement. The results compared with a loss of $27.7 million, or 23 cents, a year earlier.