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.