TiVo is looking to choke one of the more important features from other DVRs on the market and has recently unveiled new Premiere DVRs that are interesting. However, the company is not doing well financially and posted a large loss for Q4 reports the Wall Street Journal. TiVo shares grew after it won an appeal on a patent for some of its software last week, but that wasn’t enough to help its Q4 earnings.
TiVo attributes the loss for its Q4 ending January 31 of $10.2 million to cancellations of existing subscriptions for its monthly service required with all TiVo DVRs and to slowing new subscriber additions. The $10.2 million figure works out to a loss of 9 cents per share. The same quarter of the previous year TiVo posted a loss of $3.6 million.
While TiVo posted a large loss, its revenue grew by 16% to $68.5 million for the quarter. The $10.2 million loss for the quarter is better than the loss of $13 to $15 million TiVo had projected in November.