TiVo Loss Grows In 2Q Despite Revenue Gain

TiVo today reported a second-quarter loss of $19.6 million, or 17 cents a share, compared with a $15.3 million loss, or 13 cents a share, a year ago. That beats analysts’ estimates of a 20 cent loss but can’t hide the fact that its subscriber base continues to shrink (its sub total has dipped below 2 million). Still, revenue rose 19% to $61.2 million, beating the Street, thanks to licensing deals for the DVR pioneer’s patented technology, especially from overseas. That’s the technology the company has protected in the courts; during the quarter, it settled its long-time lawsuit with Dish Network for $500 million, and it has similar suits pending against AT&T and Verizon. On Aug. 12, CEO Tom Rogers unveiled a $100 million stock buyback as TiVo’s share price had dipped 25% during the past month. On Wednesday, TiVo’s stock closed down 1.6% at $8.12 but rose almost 7% after-hours when the quarterly earnings were released.

This article was printed from https://deadline.com/2011/08/tivo-loss-grows-in-2q-despite-revenue-uptick-162755/