TiVo posts profit after patent lawsuit settlement
(Reuters) - Video recorder pioneer TiVo Inc posted a quarterly profit as it gained $490 million from a patent litigation settlement with Google Inc's Motorola Mobility and Cisco Systems Inc.
Tivo reported a net profit of $268.9 million, or $1.96 per share, in the second quarter, compared with a net loss of $27.7 million, or 23 cents per share, a year earlier.
Revenue rose 53 percent to $100.1 million.
TiVo said in June it settled a patent lawsuit with Motorola Mobility, which had accused it of infringing patents for digital video recorders.
(Reporting by Sruthi Ramakrishnan in Bangalore; Editing by Don Sebastian)
- White House reverses, says Obama met uncle and lived with him during law school
- With song and sadness, South Africans mourn Mandela |
- U.S. television, Twitter, alive with new version of 'Sound of Music'
- RPT-UPDATE 1-Ford leans on global Mustang to burnish overseas image
- Ford leans on global Mustang to burnish overseas image
Revered by millions as a beacon of hope against oppression and as an archetype of reconciliation, Nelson Mandela leaves behind a grieving nation. Video