AP News

TiVo turns in loss but results beat expectations


ALVISO, Calif. (AP) — TiVo turned in a quarterly loss Tuesday, but it also reported much stronger revenue and more subscribers.

TiVo lost $15.8 million, or 13 cents per share, in the three months ending Jan. 31. That compares with a profit of $7.2 million, or 6 cents per share, in the same quarter the year before. Net revenue surged 33 percent to $88.9 million.

Analysts expected a quarterly loss of 16 cents a share and total revenues of $85.9 million, according to FactSet.

Revenue from services and technology reached $65.7 million, the highest in the company's history and higher than the range of its previous guidance. For the full fiscal year, total subscriptions were up 38 percent, pushing past the 3 million mark.

The digital video recording company has struggled to make money, posting annual losses in nearly all of the previous 10 years. It got a boost in recent months from more subscribers and a patent-dispute settlement.

TiVo, based in Alviso, Calif., has been aggressively pursuing patent disputes and reached a $250 million settlement with Verizon last year.

TiVo shares rose 18 cents to close at $12.42. The stock has traded between $7.75 and $13.49 over the past 52 weeks.


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