TiVo Q1 biggest subs rise in 7 Years
May 21, 2013
TiVo posted a narrower first-quarter loss after adding 277,000 pay-TV users – the most pay-TV subscribers gained in a quarter in seven years. The net loss of $10.3 million compared with a loss of $20.8 million year earlier.
The company is currently holding “constructive” talks with Liberty Global which is buying Virgin Media, a TiVo customer, Chief Executive Officer Tom Rogers said. TiVo supplies UK’s Virgin Media while Liberty in Europe has its own Horizon DVR system.
“We’ve looked at it as a potential opportunity,” Rogers said in an interview. “Liberty Global has a lot of subs around the world. So far the relationship has developed quite well.”
This quarter, TiVo anticipates service and technology revenue of $68 million to $70 million. The company expects a net loss of $13 million to $16 million.