August 27, 2013 / 8:28 PM / 4 years ago

TiVo posts profit after patent lawsuit settlement

Aug 27 (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.

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