TiVo Inc. sank into a deeper fourth-quarter loss, weighed down by higher rebate expenses as the company continues to aggressively recruit subscribers.
“The company said it met the goal of doubling the number of subscribers to more than 3 million, and noted that growing revenue, combined with planned cuts in acquisition spending this year, will help put TiVo into the black by the fourth quarter.
The Alviso-based maker of digital television recorders Thursday said it lost $34 million, or 42 cents a share, on revenue of $60 million in the fiscal fourth quarter ended Jan. 31.
Analysts were expecting a loss of 43 cents a share, excluding items, according to Thomson First Call.”
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Source: Associated Press
