some a number of time-shifting TV competitors, TiVo has made some sizable improvements for its recent first-quarter earnings period.
TiVo posted net income of $8.1 million -- reversing a
$10.3 million net loss in the first quarter of 2013.
The DVR-technology company also outperformed analysts’ revenue expectations, getting to $107.1 million -- a nearly 30% rise from
the same period a year ago, when it was at $82.6 million. Service and technology revenue, which makes up the majority of TiVo's sales, rose 39% from a year ago to $86 million.
levels also improved, climbing 23% year-over-year -- and up 9% from the previous quarter, to 4.5 million -- the highest in its history. TiVo said all this was done with lower marketing expenses
versus the year-ago time period.
TiVo now has deals with 15 worldwide pay TV providers, including Spain’s ONO, Sweden’s Com Hem and the UK’s Virgin Media; 12 pay TV
providers are in the U.S. Some 21% subscribed to TiVo directly.
Tom Rogers, president/chief executive officer, told analysts in an earnings call: “We’re also only about 5%
penetrated today of our U.S. cable relationships; many of those are fairly new relationships that are just getting started and so there is a lot of upside opportunity there.”
says TiVo serves 18 of the top 25 pay TV U.S. operators, including telco and satellite operators.
TiVo stock was up 3% in midday Friday trading to $12.29