Shares of TiVo Inc. increased nearly 5% in after-hours trade Tuesday after the company reported stronger-than-expected fourth-quarter earnings. Net income was $7 million, or 7 cents a share, compared with $710,000, or a penny a share, in the year-earlier period. Revenue for the three-month period increased to $114.1 million from $106.3 million the year before. Analysts in a FactSet poll were calling for earnings per share of four cents on sales of $116.2 million. Total subscriptions during the quarter grew by 30%, bringing TiVo's total annual subscription additions to almost 1.3 million, a record for the company. For the first quarter, TiVo anticipates service and technology revenues, its largest business segment, in the range of $90 million and $92 million, compared with $91.2 million in the fourth quarter.
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