TiVo reports earnings, but outlook still weak

TiVo posted a quarterly profit for only the third time in its 11-year history as the pioneer in digital video recorders continued to improve hardware margins and shift marketing costs to partners, an Associated Press report said.

But TiVo shares fell in extended trading after the company said its revenue in the current quarter will fall short of analysts' expectations, the Associated Press report said.

The company reported €1.9 million (US$2.9 million) in net income in the fiscal second quarter ended July 31, giving it back-to-back quarters of profits for the first time ever.

TiVo had posted a loss of €11.9 million (US$17.7 million) in the same period last year, and analysts surveyed by Thomson Reuters had expected a loss of €0.01 (US$0.02) per share in the past quarter.

The company said its revenue for services and technology will be at €33.2 million (US$49 million) to € (US$51 million) in the current quarter.

Analysts surveyed by Thomson Reuters had expected €38.5 million (US$57 million), close to the €39.2 million (US$58 million) posted in the third quarter of 2007.

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