TiVo: rare profit
August 29, 2008
Revenue climbed 4 per cent to $65.2 million, though that disappointed some analysts expecting a bigger gain. Significantly-lower marketing costs compared to a year ago helped boost profits. The company had 1.7 million TiVo-owned subscriptions at the end of the quarter, which declined slightly. But TiVo is looking for a boost from deals with multichannel platforms. TiVo's outlook for the next quarter, which is its fiscal third quarter, is for a net loss of $7 million-$9 million due to hardware and marketing expenses.
In a statement, TiVo President and CEO Tom Rogers said: “During the quarter, we made significant progress in several key areas of our business: in terms of our mass distribution strategy, Comcast has reaffirmed its long-term support for our partnership as evidenced by its roll-out in Connecticut; our international footprint continues to grow with Seven (network's) successful introduction of TiVo to the Australian market; and on the standalone side of the business, with the recent addition of YouTube content delivered right to the TV set, our vision of creating the ultimate television dream machine is coming to fruition.”