TiVo reports widened Q1 loss
Higher acquisition costs, legal expenses in Dish case faultedNEW YORK -- DVR pioneer TiVo reported a widened loss for the first quarter on Tuesday due to higher subscriber acquisition costs and legal expenses in its continued showdown with satellite TV giant Dish Network.
However, TiVo's bottom line figure for its fiscal quarter that ended in April was better than Wall Street had expected.
TiVo posted a quarterly loss of $14.2 million, compared with a year-ago loss of $3.9 million. Revenue rose 11% to $61.4 million. Its core service and technology revenue declined slightly to $43.2 million, falling a tad short of Wall Street forecasts.
For its current second quarter, the company predicted this revenue to hit $40 million-$42 million, also slightly below current Street consensus. TiVo also eyes a loss of $17 million-$19 million, compared to Street expectations for a $14.6 million loss.