Subscriber Additions Help TiVo Keep Pace


Morgan Keegan Inc. analyst Murray Arenson maintained his "market perform" rating on TiVo Inc., after the digital video recorder maker reported additional subscribers in the first quarter of fiscal 2003 and better-than-expected revenue growth. TiVo added about 42,000 new subscribers to its service in the three months ending April 30, outpacing Arenson's estimate of 34,000 customer additions. Also in the period, it garnered revenue of $9.9 million, beating Arenson's estimate of $7.9 million. Though Arenson was pleased with the growth, he said subscribership would have to increase significantly in order for the company to reach critical mass.