TiVo boosts revenue, guidance
TiVo Inc., citing strong results from its partnership with DirecTV, said it added 209,000 digital video recorder (DVR) subscriptions in the third quarter, up 450 percent from a year ago.
TiVo reached the all-important 1 million-subscriber milestone earlier this month. Of the new additions, about 59,000 were net new service subscriptions and about 150,000 came via TiVo's DirecTV partnership.
On the financial front, TiVo posted net revenues of $43.3 million, up 73 percent over the year-ago quarter, and recorded a net loss of $7.4 million (11 cents per share), narrowed from a net loss of 23 cents per share.
Looking ahead, TiVo now expects to add between 325,000 and 375,000 net new subs in the quarter ending Jan. 31, 2004. That would push TiVo's subscription total to about 1,377,000, ahead of previous guidance of 1,274,000.