Tivo Result 03/05/2017

By Jasmine Kang Sodha
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TiVo Corp announced FY17 Q1 result with revenue of $206 million and net loss of $35 million. There was an increase of 74% in quarterly sales compared to $118 million in FY16 Q1 due to the acquisition of TiVo Solutions Inc. in FY16 Q3, which contributed $85 million in revenues in the current quarter. The net loss grew compared to the net loss $18 million in FY16 Q1.

The company believes that the strong financial performance is a result of the value creation from the acquisition made last year and that TiVo is well on it’s way to fully integrate the two companies’ product lines and continue on schedule to deliver at least $100 million in cost synergies, with 65% coming from actions taken within 12 months of the closing of the transaction.