(Corrects headline, paragraphs one and 10 to remove revenue
comparison with analysts' estimates. Analysts' estimates include
only the company's service and technology revenue, not total
May 22 Digital video recorder maker TiVo Inc
reported a 30 percent rise in quarterly revenue, helped
by strong growth in subscriptions through European cable company
partners such as Virgin Media and Ono.
TiVo's shares rose 5 percent in extended trading.
Cable subscribers are turning to TiVo's set-top boxes that
also allow them to access online video services such as Netflix
Inc, Hulu and Google Inc's YouTube.
TiVo said total subscribers in the first quarter crossed 4.5
million, including net additions of 341,000 in its cable and
satellite television business. The business provides digital
video recording service through the company's and service
providers' set-top boxes.
Liberty Global Plc unit Virgin Media said on May 7
that net subscriber additions for TiVo's set-top boxes were
155,200 in the first quarter ended March 31, compared with
136,900 in the fourth quarter.
TiVo's cable customers also include DirecTV, RCN and
TiVo forecast second-quarter profit of $6 million to $9
million and service and technology revenue of $86 million to $88
The company reported a net profit of $8.1 million, or 7
cents per share, in the first quarter ended April 30, compared
with a loss of $10.3 million, or 9 cents per share, a year
Revenue rose to $107.1 million from $82.6 million a year
earlier, TiVo said on Thursday.
Analysts on an average had expected earnings of 6 cents per
share, according to Thomson Reuters I/B/E/S.
The company's shares, which lost 10 percent of their value
in the last six months, were trading at $12.56. They closed at
$11.93 on the Nasdaq on Thursday.
(Reporting by Sruthi Ramakrishnan in Bangalore; Editing by
Joyjeet Das and Sriraj Kalluvila)