TiVo posts narrower loss as revenues rise

Digital video recorder maker TiVo reported a narrower fiscal third-quarter loss as revenue rose sharply and expenses fell, an Associated Press report said.

The Associated Press report said for the quarter ended October 31, TiVo posted a loss of $8.2 million versus a loss of $11.1 million a year ago.

The report said adjusted earnings before interest, taxes, depreciation and amortization were $300,000, better than company guidance, according to TiVo.
The company recorded a comparable loss of $6 million in the year-ago period.

Revenue rose 14 % to $75.5 million from $66 million. Service and technology revenue, which is tracked by Wall Street, rose to $58.3 million from $52.5 million; analysts expected $57 million.

The Associated Press report also said TiVo has been fighting increased competition from cable companies that are selling their own DVR services, but TiVo has been increasingly licensing its software to other device makers.

TiVo forecast fourth-quarter service and technology revenue between $58 million and $60 million and a net loss of $9 million to $12 million. Analysts expect service and technology revenue of $59.1 million, the report further said.