ALVISO, California: US digital video recorder pioneer TiVo narrowed net losses in its fiscal third quarter to $11.1 million (€8.4m; £5.6m) from $14.2m a year ago. Revenue rose 32% to $65.7m from the year-earlier period.
The company says its total subscriber base increased 11% from a year earlier to 4.4m. The number of TiVo-owned subscriptions was up 24% from last year to 1.6m, but subscriptions through its marketing deal with DirecTV declined, as expected, due to the satellite television provider deploying fewer TiVo boxes.
Comments ceo Tom Rogers: "Given our efforts to differentiate TiVo, we are pleased that we were able to build momentum relative to last year."
A number of new features have been added to the TiVo offering to compete with rival DVRs from cable and satellite TV firms. Most recently TiVo announced it would begin selling ads at the end of recorded programs, when there is nothing left to fast forward.
Data sourced from Wall Street Journal Online; additional content by WARC staff