TiVo Shares Advance on Subscriber News

TiVo Inc., which makes digital video recorders that pause and replay live television, said the number of its subscribers surpassed 3 million. The company’s shares advanced 6.4%.

TiVo added about 698,000 subscribers in the fiscal fourth quarter ended Jan. 31, including 447,000 through its partnership with DirecTV Group Inc., the Alviso, Calif.-based company said.

Some investors had worried that TiVo was losing market share to cable companies, said Daniel Ernst, a Hudson Square Research and Soleil Securities analyst.

TiVo’s 251,000 new subscribers through its own system exceed those reported by Time Warner Inc. and Comcast Corp., Ernst said.

Shares of TiVo gained 23 cents to $3.85 on Nasdaq.