One of the later Q2 earnings entries, DVR marketer TiVo (NSDQ: TIVO) said its Q2 net loss widened to $17.7 million from last year’s $6 million. The loss was 18 cents a share, which the AP (via Forbes) noted was much higher than 5 cents a share analysts polled by Thomson Financial expected. TiVo attributed the growing loss on a combined inventory write-down and inventory purchase commitment charge of $11.2 million. On the plus side, net revenues were up 5.1 percent to 62 million in Q2 from 59 million last year, thanks to its new HD set-top box and its ‘Buy on Box’ initiative that allows TiVo subscribers to buy films through Amazon Unbox download service. Other TiVo news from Q2 included:
— Service and technology revenues gained 7 percent to come in at $56.5 million, compared with $52.8 million for the same period last year.
— The company added 41,000 new subs, a difference of 44.6 percent less compared to the 74,000 gross additions in Q206, which TiVo blamed on the slow pace at which retailers moved to a HD sales focus. Overall, TiVo-owned subscriptions totaled 1.71 million, up 136,000 on an annual basis compared to the year ago-period. Additionally, the monthly churn rate was 1.2 percent compared to 1.1 percent in the prior quarter. Earnings release | Webcast (5:00 p.m. EDT)
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