CNET también está disponible en español.

Ir a español

Don't show this again

SpaceX, NASA delay Demo-2 mission HBO Max Teenage Mutant Ninja Turtles pinball HBO Max Harry Potter movies Mortal Kombat 11 Aftermath DLC launch trailer Best VPN service

TiVo's loss shrinks as sales jump

The digital video recorder maker reports a first-quarter loss of 12 cents per share, beating analyst expectations.

Digital video recorder maker TiVo posted a considerably narrower first-quarter loss than a year ago, as sales more than doubled.

For the three months ended April 30, the San Jose, Calif.-based company said on Thursday that it lost $7.9 million, or 12 cents per share, on revenue of $28.5 million. That compares with a loss of $35.2 million, or 74 cents per share, on revenue of $13 million in the same quarter a year ago. Analysts were expecting a loss of 22 cents per share, according to First Call.

TiVo said it saw strong demand for a new "home media" option that allows consumers to play music and view pictures stored on a PC using their TiVo system.

"Our record first-quarter growth clearly shows that TiVo continues to be a brand leader in the market as consumers embrace and demand DVR (digital video recorder) products," TiVo Chief Executive Mike Ramsay said in a statement.

The company said it added approximately 79,000 new subscriptions in the first quarter, compared with 42,000 subscriptions added during in the first quarter of last year, giving the company a total of 703,000 subscribers as of April 30.

Earlier this month, TiVo announced a new basic service that consumer-electronics makers can build into devices--such as DVD players--that combine video recording with other functions.

TiVo reiterated that it expects to add 450,000 to 600,000 subscriptions in the current fiscal year, which would give the company more than 1 million subscriptions by the end of January. The company forecast a total operating loss for the fiscal year in the range of $27 million to $38 million.