TiVo Earnings Q1 2012TiVo‘s stock price is down about 2% in after-market trading — following a 3% drop earlier today. The DVR pioneer ended its fiscal Q1 in April with a net loss of $20.8M, down from a $139M profit in the period last year, on revenues of $67.8M, up 48.1%. (Last year’s profit included $175.7M from Dish Network as part of the settlement of TiVo’s patent infringement suit against the satellite company.) The revenue figure was far ahead of the $54.9M that analysts expected. But the loss exceeded the maximum of $20M that TiVo projected three months ago. The 17 cents a share deficit also exceeded the 15 cent loss that the Street anticipated. TiVo ended the quarter with 2.5M subscribers, up 206,000 from the period that ended in January. But all of the gains came from cable and satellite companies offering TiVo services. The number of people paying TiVo directly declined by 29,000 and now represents 43.5% of its total customer base. The company’s losses will increase to as much as $30M in the current quarter, TiVo warns. Research and development costs should rise as the company develops software and products for pay TV providers. Also, the company expects legal expenses to increase due to its patent infringement cases against Verizon, Motorola, and Time Warner Cable. CEO Tom Rogers, who’s eager to line up licensing deals with pay TV providers, says that TiVo plans to launch a TV Everywhere Web portal for operators. “This will allow the operator to make sure there is a common interface and thus a common experience across all the devices a consumer may want to use to access their TV content.”