TiVo Corporation (TIVO) swung to a net profit for the quarter ended Sep. 30, 2016. The company has made a net profit of $49.92 million, or $ 0.54 a share in the quarter, against a net loss of $18.46 million, or $0.22 a share in the last year period.     

Revenue during the quarter surged 33.29 percent to $153.12 million from $114.88 million in the previous year period. Gross margin for the quarter contracted 223 basis points over the previous year period to 76.34 percent. Operating margin for the quarter stood at negative 13.08 percent as compared to a positive 9.13 percent for the previous year period.

Operating loss for the quarter was $20.04 million, compared with an operating income of $10.49 million in the previous year period.

"Q3 was a transformative quarter," said Tom Carson, president and chief executive officer of TiVo. "Rovi acquired TiVo to form the new TiVo, an entertainment technology leader with a global customer base, robust intellectual property portfolios, best-in-class product development capabilities and financial strength. Our combined product offering saw continued momentum, including Q3 launches of new advanced search and recommendations services and the TiVo BOLT+ device. We also renewed our license agreement with DISH Network, further validating the long-term value and relevance of our intellectual property portfolios for both traditional and next-generation pay-TV service providers."

TiVo Corporation forecasts revenue to be in the range of $620 million to $630 million for fiscal year 2016.