Slight Improvement for TiVo in 3Q

Author:
Updated:
Original:

TiVo reported its financial results for its fiscal third quarter ended Oct. 31.

The digital-video-recorder vendor posted service and technology revenues of $52.6 million, up 22% from $43.2 million in the year-ago period.

TiVo’s net loss was $11.1 million, or $0.12 per share, versus $14.2 million ($0.17) in the previous-year quarter.

The company said TiVo-owned subscriptions were up 24% year-over-year to 1.6 million, and it reported a net decline in the number of DirecTV TiVo subscriptions during the period as the direct-broadcast satellite provider deployed fewer TiVo boxes.

Cumulative total subscriptions as of Oct. 31 were up slightly from last quarter to 4.4 million and up 11% compared with the year-earlier figure.

“Our strategy remains clear: to drive our standing as the only branded and truly differentiated DVR in the world,” TiVo CEO Tom Rogers said in a prepared statement.

“In the third quarter, we continued to make progress toward that goal, and our results reflected our efforts as gross subscription-addition growth was positive for the first time on a year-over-year basis in six quarters,” he added.

Related