Earnings: TiVo Q3 Revs Up 11 Percent; Losses Narrow

DVR maker TiVo (NSDQ: TIVO) did Q3 revenue of $58.3 million, up 11 percent from last year’s $52.5 million. Net losses narrowed to $8.2 million ($.08 per share) from $11.1 million ($.12 per share) a year ago. The company cited expanded retail availability and new product launches for its top-line growth. TiVo-owned subscriptions totaled 1.7 million, compared to 1.6 million last year, as growth was mitigated by DirecTV, (NYSE: DTV) which no longer deploys new TiVo boxes. Cumulative subscribers stand at 4 million, down from 4.4 million. The company’s monthly churn rate hit 1.3 percent, up from 1 percent. Looking to next quarter, the company is anticipating revenue of $58 million – $60 million and net losses of $9 million – $12 million.
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