TiVo loss narrows as sales rise

Digital video recorder maker TiVo Inc. reported a narrower quarterly loss Wednesday as its revenue and subscriptions increased, and it issued a forecast that was more optimistic than estimates.

The net loss was $8.24 million, or 8 cents a share, for its fiscal third quarter ended Oct. 31, compared with a loss of $11.1 million, or 12 cents, a year earlier.

Revenue rose to $75.5 million from $66 million as service revenue from subscribers advanced to $52.94 million from $49 million.

TiVo-owned subscriptions rose to 1.7 million from 1.6 million.

For its fiscal fourth quarter, the Alviso, Calif., firm forecast a net loss of $9 million to $12 million and a loss excluding certain items of $2 million to $5 million.

TiVo expects service and technology revenue, the bulk of its sales, of $58 million to $60 million.

Analysts, on average, expect TiVo to post a fourth-quarter net loss of $14.1 million and revenue of $58.6 million, according to Reuters Estimates.