TiVo Inc. (NASDAQ: TIVO) programmed some time for itself in the earnings confessional this afternoon, announcing first-quarter earnings results that topped analysts' estimates.
Service and technology revenue totaled $48.5 million, edging out Street expectations of $48.2 million. TiVo posted a net loss of $4.1 million, or four cents per share, two cents better than the six-cent loss analysts were expecting. Results were lower, however, in comparison to the company's year-ago profit of $3.6 million, or four cents per share. TiVo added 37,000 subscribers in the period (down from 48,000 in last year's first quarter) and churn rate was 1.4%.
Looking forward, however, the company expects a net loss of $6 million to $8 million, much wider than the $2.38 million loss expected on Wall Street. The Street is focusing on the outlook, it appears, as the stock has dropped more than 1% in after-hours trading.
In other news, TiVo CEO said the company is moving forward with cable operator Comcast Corporation (NYSE: CMCSA), which has joined forces with TiVo for its New England markets and is launching soon in Chicago. Subscribers to Comcast's all-digital cable service in these regions will have the option of using TiVo's digital video recorder (DVR) in lieu of the Comcast digital adapter.
Beth works for The Options News Network (www.ONN.tv), which provides daily options commentary. The above comments are not intended as trading advice.
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