TiVo reported its financial results for its fiscal third quarter ended Oct. 31.
The digital-video-recorder vendor posted service and technology revenues of $52.6 million, up 22% from $43.2 million in the year-ago period.
TiVo’s net loss was $11.1 million, or $0.12 per share, versus $14.2 million ($0.17) in the previous-year quarter.
The company said TiVo-owned subscriptions were up 24% year-over-year to 1.6 million, and it reported a net decline in the number of DirecTV TiVo subscriptions during the period as the direct-broadcast satellite provider deployed fewer TiVo boxes.
Cumulative total subscriptions as of Oct. 31 were up slightly from last quarter to 4.4 million and up 11% compared with the year-earlier figure.
“Our strategy remains clear: to drive our standing as the only branded and truly differentiated DVR in the world,” TiVo CEO Tom Rogers said in a prepared statement.
“In the third quarter, we continued to make progress toward that goal, and our results reflected our efforts as gross subscription-addition growth was positive for the first time on a year-over-year basis in six quarters,” he added.
Thank you for signing up to Multichannel News. You will receive a verification email shortly.
There was a problem. Please refresh the page and try again.