Technology

TiVo Posts Strong Sub Gains

3/04/2004 9:10 AM Eastern

TiVo Inc.’s share price ticked up Thursday after the digital-video-recording service said it added a net 330,000 subscribers in the fourth quarter, versus 115,000 in the same period a year ago.

TiVo said 200,000 of the net additions came from DirecTV Inc. in the quarter that ended Jan. 31.

Net quarterly revenue rose 85% year over year to $42.6 million. TiVo’s net loss -- said to be lower than analysts had predicted -- was $12.4 million, or 18 cents per share, versus $32.5 million (56 cents) in the same period a year ago.

TiVo’s stock price rose 4% Thursday, to $11.46 per share from $11.02.

September