TiVo swings to $20.8M 1Q loss

Question of the Day

Is it still considered bad form to talk politics during a social gathering?

View results

ALVISO, CALIF. (AP) - TiVo Inc. said Wednesday that it posted a $20.8 million fiscal first-quarter loss, reversing a profit in the same quarter last year, as hefty costs more than offset a jump in revenue.

The comparison is difficult in part because the year-ago quarter got a boost from settling the company’s digital video recorder patent lawsuit against Dish Network Corp. for $175.7 million.

TiVo’s total revenue for the quarter that ended April 30 rose 48 percent to $67.8 million from $45.8 million, while combined service and technology revenue jumped 40 percent to $54.5 million.

Analysts expected lower revenue of $55.3 million, according to FactSet.

But the loss of 17 cents per share was bigger than Wall Street expected. Analysts, on average, expected a loss of 15 cents per share.

A year earlier, TiVo earned $139 million, or $1.04 per share.

TiVo said it has about 2.5 million subscribers, a rise of 27 percent, and it expects subscriptions to grow even faster during the rest of the fiscal year.

For the current quarter, TiVo expects to post a loss of $28 million to $30 million on revenue from services and technology of $53 million to $55 million. Analysts on average expect $54.6 million in revenue for the two categories combined.

TiVo shares fell 27 cents, or 3 percent, to $8.69 in aftermarket trading. Before the company reported on its earnings, the stock lost 28 cents, or 3 percent, to end the regular session at $8.96.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Comments
blog comments powered by Disqus
TWT Video Picks