TiVo (NASDAQ:TIVO) announced on Wednesday that it lost $27.7 million during the second quarter, compared to a $19.6 million loss in the same period last year.
The TV recording service posted quarterly revenue of $65.6 million, up 7% from 2011. Service revenue came in at $54.1 million, which missed the $54.5 million that Wall Street was looking for, the Associated Press noted.
EPS for the quarter showed a loss of 23 cents, slightly less than the 24 cents-per-share loss analysts had estimated.
Investors were unimpressed by the results. TiVO shares fell more than 3% in Thursday morning trading.
The company noted that it added 230,000 subscribers during the quarter. It now has 2.7 million subscribers, up 41% over last year. Subscribers pay an average monthly fee of $8.42.
TiVo predicts that it will lose between $27 million and $29 million, or between 23 cents and 24 cents a share, in the third quarter. That’s worse than the 17 cents per share loss Wall Street is expecting.
Service revenue during the current quarter is expected to range between $57 million and $59 million, which met analysts’ estimates of $57 million.