TiVo Grows Subs, Gets 'Maintained'

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Morgan Keegan & Co. Inc. analyst Murray Arenson maintained his "market perform" rating on TiVo Inc., citing the company's better than expected second-quarter subscriber growth. TiVo, which offers a subscription personal video recording service, added 40,000 new homes in the second quarter ended June 30, beating Arenson's estimate of 33,000 new subscribers. Although revenue was lower than expected — $4.1 million in the period, compared to Arenson's estimate of $4.3 million — TiVo beat his earnings-per-share estimate by 9 cents a share, reporting a net loss in the period of 82 cents per share. TiVo closed at $4.90 on Sept. 5, down 35 cents.