TiVo Sheds Customers Again, But Wall Street Is Impressed With Quarterly Results

TiVo reported a wider quarterly loss and shed more customers who cast off their brand-title boxes in support of generic models, but financial results capped anticipation and also the stock rose around 8 percent following the closing bell Wednesday. TiVo lost 456,000 customers, ending its fiscal second quarter with 1.9 million, but the very first time in lots of quarters the organization added customers through its close ties with cable companies. The Digital recording device pioneer continues to be losing customers since rapport with DirecTV went south in the past. It's since struck a brand new cope with DirecTV and added Comcast like a partner, but individuals close ties happen to be stuck in neutral for a long time. Handles more compact cable companies within the U.S and foreign marketplaces, though, have started to deal with fruit. Boss Tom Rogers stated Wednesday in TiVo's earnings release that DirecTV is "advancing towards launch" but he earned no reference to Comcast. A speaker stated there is "just absolutely nothing to report." The organization reported a loss of revenue of $20 million in comparison having a lack of $15 million around-ago quarter, though revenue advanced 19 percent to $61.two million. TiVo ended the quarter with $628 million in cash, thanks to a $300 million payment from Dish Network that settled a patent dispute within the prior quarter, as well as on Wednesday Rogers stated TiVo will put a number of that cash to make use of using a $100 million stock repurchase plan. Rogers stated the stock -- which sunk 2 percent to $8.12 Wednesday -- is "buying and selling at abnormally depressed levels." Like the way it went after Dish, Tivo is suing AT&T and Verizon for patent violation. Related Subjects