TiVo Raises Mid-Point Of 2017 Revenue, Non-GAAP Pre-tax Income Guidance

(RTTNews) - TiVo Corp. (TIVO) has raised its expectations for 2017 Non-GAAP Pre-tax Income to $218 million to $232 million, increasing the midpoint by $12.5 million. The company tightened its expected revenue range to $810 million to $830 million, raising the midpoint of the range to $820 million, which includes approximately $35 million of hardware revenues at the mid-point of expectations.

On a Non-GAAP basis, second quarter 2017 Non-GAAP Pre-tax Income was $66.4 million, compared to $36.9 million in the second quarter of 2016. The company reported second quarter revenue of $208.6 million, an increase of 67% compared to $125.2 million in the second quarter of 2016. The company said revenues were higher than in the comparable period of the prior year due to the acquisition of TiVo Solutions Inc. in the third quarter of 2016, which contributed $94.9 million in revenues in the current quarter.