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.