TiVo Narrows Its Loss

It beats analyst estimates, but subscriber growth slows.
Author:
Publish date:

TiVo

(TIVO) - Get Report

narrowed its third-quarter loss, beating analysts' estimates.

The TV recording-device maker said Wednesday it lost $8.2 million, or 8 cents a share, compared with a loss of $11.1 million, or 12 cents a share a year ago.

Analysts were expecting a loss of 13 cents a share.

Revenue rose to $58.3 million from $52.5 million for the same period last year. Analysts were expecting revenue of $56.7 million.

Shares of TiVo were up 16 cents, or 2.7%, to $6.14 in recent after-hours trading.

Gross additions to TiVo-owned subscriptions for the third quarter were 69,000, compared to 101,000 gross additions a year earlier.. Overall, TiVo-owned subscriptions increased to 1.7 million from 1.6 million a year ago.

As expected, TiVo reported a net decline in

DirecTV

(DTV)

TiVo subscriptions during the quarter since DirecTV is no longer deploying new TiVo boxes.

Cumulative total subscriptions as of Oct. 31 were 4.1 million. The monthly churn rate was 1.3%, compared with 1% the same period a year ago and 1.2% in the second quarter.

For the fourth quarter, TiVo said it anticipates revenue in the range of $58 million to $60 million, with a loss in the range of $9 million to $12 million. Analysts are expecting revenue of $59.11 million and a loss of 17 cents a share.