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.
Fool contributor Tim Beyers is a member of the Motley Fool Rule Breakers stock-picking team and the Motley Fool Supernova Odyssey I mission. He didn't own shares in any of the companies mentioned in this article at the time of publication. Check out Tim's web home and portfolio holdings or connect with him on Google+, Tumblr, or Twitter, where he goes by @milehighfool. You can also get his insights delivered directly to your RSS reader.
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