TiVo Posts A Profit
Granted it’s not a lot of money however, TiVo posted a profit of 1 cent per share for this quarter (ending April 30). This is a heck of a lot better than last quarter when TiVo posted at loss of 13 cents per share.
On an adjusted basis, the company recorded a first-quarter profit of $6.7 million versus a year-ago loss of $6.9 million.
Revenue rose 6 percent to $60.4 million from $56.8 million, with service revenue up 15 percent to $54.2 million.
Analysts, on average, expected a loss of 2 cents per share on sales of $58.4 million, according to a poll by Thomson Financial.
The DVR pioneer, which has never posted a quarterly profit until now, said it expects to post a second-quarter net loss in the range of $5 million to $8 million.
Shares of TiVo rose 25 cents, or 4.1 percent, to $6.36 in Wednesday’s trading. In aftermarket activity, shares lost 11 cents to $6.25.
