Shares of TiVo (TIVO) are down 21 cents, or 2%, at $8.75 in late trading after the company this afternoon reported fiscal Q1 revenue below analysts’ expectations, and a deeper-than-expected net loss.
Revenue in the three months ended in April rose 40%, year over year, to $54.5 million, yielding a net loss of 17 cents a share.
Analysts had been modeling $55.3 million and a 15-cent net loss.
The company saw total subscriber count rise by 27%, year over year, to end the quarter with 2.5 million.
CEO Tom Rogers called the quarter’s results “a solid start to the year” and said TiVo was continuing to “execute on our key objectives.” Rogers said the company’s increase in subscribers was a result of the fact that “cable operators are demanding a product that can tame an increasingly chaotic array of content choices.”
For the current quarter, the company expects a net loss of $28 million to $30 million on revenue of $53 million to $55 million. Analysts have been modeling $56.2 million and a net loss of $27 million, on an adjusted basis.
TiVo’s conference call with analysts is currently ongoing, having begun at 5 pm, Eastern time. You can catch the rest of the webcast here.
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