TiVO Loss Beats Estimates, Adds Subscribers

by Christopher Freeburn | August 30, 2012 10:31 am

TiVO Loss Beats Estimates, Adds Subscribers

TiVo (NASDAQ:TIVO[1]) announced on Wednesday that it lost $27.7 million during the second quarter[2], 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.

Endnotes:
  1. TIVO: http://studio-5.financialcontent.com/investplace/quote?Symbol=TIVO
  2. during the second quarter: http://www.msnbc.msn.com/id/48834340/ns/business-us_business/

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