Shares of television time-shifting technology pioneer TiVo (TIVO) are up 43 cents, or almost 5%, at $10 in late trading after the company reported fiscal Q3 revenue substantially ahead of expectations and delivered a smaller-than-expected loss per share.
Revenue in the three months ended in October rose 27%, to $64.8 million, yielding a net loss per share of 21 cents.
Analysts had been modeling $51 million and a 23-cent loss.
Service and technology revenue of $51.8 million beat the high end of the company’s forecast of $49 million to $51 million.
Net subscriber additions were 117,000, for a total of 2.04 million at the end of the quarter. That was a reversal of the 33,000 in the prior quarter.
For the current quarter, the company sees services and technology revenue declining slightly, to a range of $48 million to $50 million. The “Adjusted Ebitda” loss is expected to widen to a range of $21 million to $23 million from last quarter’s $13.9 million.
TiVo will hold a conference call with analysts at 5 pm, Eastern, and you can access it here.
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