TiVo, the digital video recorder maker, reported a narrower loss than expected on Wednesday as it slowed the rate of decline to its subscription service. The company posted a second-quarter net loss of $15.3 million, or 13 cents a share, compared with a loss of $2.7 million, or 3 cents a share, a year earlier. The average analyst estimate was for a loss of 15 cents a share, according to Thomson Reuters I/B/E/S.
TiVo's revenue beat analysts' expectations of $41.87 million. Revenue fell 10.4 percent to $51.6 million in the quarter ended on July 31 from a year earlier. Chief Executive Tom Rogers said in a statement that he expects TiVo to win the ongoing legal battle with EchoStar and Dish Network.