TiVo made gains for its first-quarter revenue results with higher cable operator subscriptions.
The time-shifting and technology company boosted multiple system cable operator revenue by nearly 100% -- adding nearly 280,000 subscriptions -- with overall revenue climbing $82.6 million from $67.8 million. The company trimmed its net loss in half to $10.3 million from $20.8 million in the first quarter of 2012.
TiVo has 3.4 million total subscribers -- through cable operators, satellite and telco distributors, as well as separate TiVo-owned customers -- up from 2.5 million in the first quarter of 2012.
Tom Rogers, president/chief executive officer of TiVo, stated that the company is focused on "making consumption of television more personalized, with more programming choices customized according to user-defined preferences and accessible from the cloud, enabling users to get those programming choices through TiVo on different devices regardless of location."
Looking at its growing audience measurement research business, TiVo said its TiVo Research and Analytics unit is looking for more "granular understanding of TV viewing behavior." During the quarter, it signed a deal with Nielsen data for its single-source data unit. Also, during the quarter, it merged TiVo Power||Watch ratings service with the purchasing behavior insights from TiVo Research and Analytics.
TiVo's mid-day Tuesday stock was up 2.6% to $12.99.