Tivo loses money, adds subs

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Tivo reported a third-quarter loss of $34.5 million, while it claimed strong growth in both revenues and subscribers of its television recording services.

Reuters reports revenues for Tivo, whose personal video recording service allows viewers to customize television viewing by automatically recording shows on a computer hard drive for playback at a later time, increased to $5.3 million, up 29 percent from $4.1 million in the second quarter, and $1.1 million for the third quarter of last year.

The San Jose, Calif.-based PVR firm reported a net loss for the quarter of $34.5 million, or 81 cents a share, vs. a loss of $72.7 million, or $1.89 per share, a year ago.

The Wall Street consensus loss estimate was 83 cents, while the expected loss ranged from 80 cents to 88 cents, according to Thomson Financial/First Call.

The company claimed 51,000 new Tivo subscribers for the quarter, bringing the total subscriber base to about 280,000 as of Oct. 31.

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