Losses smaller, revenues up for TiVo

first_img 160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set! SAN JOSE – TiVo Inc. reported a narrower-than-expected loss for the third quarter and cautioned Tuesday that its fourth-quarter loss would be between $17 million and $22 million. For the three months ended Oct. 31, the pioneer of digital video recorders lost $14.2 million, or 17 cents per share. That was a 46 percent improvement over a loss of $26.4 million, or 33 cents a share, in the year-ago period. Revenue rose by nearly 30 percent to $49.6 million from $38.3 million in the quarter last year. Analysts were expecting the Alviso-based company to lose 24 cents a share on revenue of $42 million, according to a poll by Thomson Financial. AD Quality Auto 360p 720p 1080p Top articles1/5READ MOREBlues bury Kings early with four first-period goals TiVo, which pioneered DVRs that let users easily record television shows to a hard drive and pause live TV, is facing tough competition as it strives to reach sustainable profitability. In the second quarter, the company reported its first ever profit – albeit a small one of $240,000, or break-even on an earnings-per-share basis – but the company has forecast future quarterly losses as it plans to increase sales and marketing efforts to boost subscriber numbers. For the third quarter, TiVo acquired 434,000 new subscribers, compared to 419,000 in the year-ago period. A large portion of those new accounts, 379,000, were from DirecTV satellite TV subscribers, instead of consumers who purchased TiVo’s stand-alone DVRs. Shares of TiVo fell 55 cents, nearly 10 percent, to close at $5.18 Tuesday on the Nasdaq Stock Market. The shares rose 6 cents in late-session activity. last_img

Leave a Reply

Your email address will not be published. Required fields are marked *