TiVo Subscribers Increasing10 Mar, 2003 By: Hive News
TiVo lost money in its most recent fiscal quarter, but the service is on track to make big gains. The company narrowed losses in the fourth quarter ended Jan. 31.
Revenue was $13.7 million, up from $6.8 million in the same period a year ago. TiVo reported a net loss of $14.7 million, or 25 cents per share, besting last year's fourth-quarter net loss of $41.6 million, or 92 cents per share, and analysts' estimates of a loss of 32 cents per share. The company gained 115,000 subscribers in the quarter, bringing its total to 624,000.
TiVo also signed licensing deals with Samsung, Philips, Toshiba, Sony and extended its deal with Hughes, which places more personal video recorders in homes than TiVo itself via Hughes' DirecTV unit.
TiVo is developing a premium package called Home Media Option that includes home networking. The company expects to add between 450,000 and 600,000 new subscribers this year.