TiVo Exceeds R&R Estimates

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Rodman & Renshaw analyst Daniel Ernst reiterated his "market outperform" rating on TiVo Inc., after the company reported better than expected first quarter results. TiVo outpaced Ernst's estimates for subscriber growth (79,000, versus his 65,000 prediction) and service and technology revenue (coming in 13% ahead of his estimate). In a report, Ernst said that TiVo's cash flow loss for the period was 41% lower than his expectations.