TiVo has reported financial results for its third quarter ended September 30th 2019. The dvr pioneer posted revenues of $158.52 million (€143.6m) for the quarter. This compares to revenues of $164.71 million from the same period a year ago.
TiVo saw 89 per cent gains in IP Licensing, to $75.7 million, but was unable to offset losses at Product Revenue, where revenue dropped 12 per cent to $82.8 million.
“We are very focused on Company execution, and we delivered solid financial results in the quarter, while accomplishing key business milestones,” said Dave Shull, President and Chief Executive Officer. “We continue to make progress with the separation of our IP Licensing and Product businesses and are targeting completion of the transaction in April 2020. Our IP Licensing business expanded its customer base in the quarter and reported 8 per cent year-over-year revenue growth. We continue to streamline the Product business for future success, and are pleased with the launch of TiVo+ last month. We are excited about our expanding pipeline of new and innovative products to fuel future growth heading into 2020.”