TiVo have announced they have over one million subscribers after adding 209,000 subscriptions in the last quarter. 59,000 of these were purchases of TiVo equipment; the other three quarters were through their partnership with DirecTV.
Looking forward, they have altered their projection upwards to 1.37m subscribers by the end of year and expect to add over one million more subscriptions in the next fiscal year.
TiVo are still operating at a loss of $7.4 million, or 11 cents per share, on $22.7 million in services and technology sales. Despite beating the analysts expectation of a loss of 16 cents per share on sales of $17.7 million, TiVo stock dropped 12% on Friday.
As Rupert Murdoch prepares to take over DirecTV, there are concerns about TiVo’s supplier relationship with them as Murdoch has a strong business relationship with NDS who also provide Digital Video Recorders. Investors felt some comfort back in October when DirecTV Chairman and CEO Eddy Hartenstein joined TiVo’s board of directors and a promotional partnership with Fox was signed.