The 10-second takeaway
For the quarter ended April 30 (Q1), TiVo missed estimates on revenues and missed expectations on earnings per share.
Compared to the prior-year quarter, revenue expanded significantly and GAAP earnings per share shrank to a loss.
Gross margins improved, operating margins expanded, and net margins shrank.
TiVo booked revenue of $54.5 million. The seven analysts polled by S&P Capital IQ wanted to see revenue of $57.6 million on the same basis. GAAP reported sales were 48% higher than the prior-year quarter's $45.8 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at -$0.17. The nine earnings estimates compiled by S&P Capital IQ predicted -$0.16 per share. GAAP EPS were -$0.17 for Q1 versus $1.04 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 51.1%, 500 basis points better than the prior-year quarter. Operating margin was -28.9%, 5,020 basis points better than the prior-year quarter. Net margin was -30.7%, 33,460 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $58.8 million. On the bottom line, the average EPS estimate is -$0.14.
Next year's average estimate for revenue is $238.3 million. The average EPS estimate is -$0.61.
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 845 members out of 1,096 rating the stock outperform, and 251 members rating it underperform. Among 267 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 195 give TiVo a green thumbs-up, and 72 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on TiVo is outperform, with an average price target of $15.21.
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