TiVo’s Losses Widen (Again)

Tivo

More bad news for TiVo (NSDQ: TIVO), which can’t seem to turn around its losses. The company posted its sixth quarterly loss in a row, posting a net loss of $20.6 million, or 18 cents a share, up from a loss of $6.4 million during the same period a year ago. Revenue for the quarter dropped 12 percent to $41.3 million, as the company’s subscriber base dropped by 112,000.

The company is not expecting to turn around its results next quarter, projecting a bigger loss of $32 million to $34 million and revenue of between $40 million and $42 million. TiVo is attributing that in part to a change in its pricing model, which has subscribers paying lower upfront fees but higher monthly fees — a move that it says will increase subscription profitability in the long-term but negatively impact its short-term results.

The company’s quarterly results did not meet analysts’ already low expectations. On average, Wall Street analysts had expected earnings per share of 17 cents. The revenue figure was in line with what analysts had expected.

On a more upbeat note, TiVo says it’s launching an iPad app in “a few weeks,” which it describes as as “an an experience that uniquely works in tandem with what you are watching on the television screen” and which it hopes will distinguish its set-top boxes from competitors.

See chart here comparing third-quarter results across the industry

Comments have been disabled for this post