TiVo shares jumped more than 6% in after-hours Tuesday after the company reported improved revenues and subscription growth in the fourth quarter of 2014.
TiVo gained 340,000 net total subs in the fourth quarter, a number that included 16,000 TiVo-owned subs, and 324,000 that came way of TiVo’s multichannel video programming distributor (MVPD) partners. TiVo ended its fiscal year (ended Jan. 21, 2015) with almost 5.47 million subs (944,000 TiVo-owned subs, and 4.52 million with MSOs), roughly 1.3 million more than a year earlier.
The company said its 16,000 net TiVo-owned subs marked its best performance in seven years in the category, noting that it was driven by the continued launch of the Roamio OTA, a product aimed at cord-cutters that mixes over-the-air TV with over-the-top content from sources such as Netflix and Hulu Plus, and shifts in whole-home DVR pricing that caused an uptick in sales of the TiVo Mini, an IP-based client device.
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