TiVo's Third Quarter Stronger Than Expected

After falling slightly in after-hours trading, shares of TiVo (Nasdaq: TIVO  ) were up slightly this morning on stronger-than-expected third-quarter results. Revenue rose 26.6% to $82 million while earnings improved to $0.44 a share from last year's $0.21-per-share loss. Analysts were expecting a $0.05-per-share loss on $72.3 million in revenue, according to FactSet Research.

A $250 million legal settlement with Verizon (NYSE: VZ  ) aided results. The company says it has now realized more than $1 billion in consideration for intellectual property violations, including a $500 million settlement with DISH Network (Nasdaq: DISH  ) finalized last year.

TiVo isn't likely to enjoy the same tailwind in Q4. Management projects a $15 million to $17 million net loss in the fourth quarter, worse than the $14.4 million average Wall Street had been calling for.

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