TiVo on a roll with Q2 profit

August 27, 2008 TiVo surprised Wall Street on Wednesday by reporting its second straight quarterly profit, though its guidance was below expectations and the stock sunk in after-hours trading, wiping out a big gain from the regular session. Revenue rose 4% to $65.2 million, but services and technology revenue, which strips out money-losing hardware sales, fell 5% to $53.5 million as TiVo continued to lose customers to cable and satellite TV competitors. The troublesome guidance was for just $49 million-$51 million in the current quarter, well shy of the $57 million analysts were predicting, on top of a bigger-than-expected loss forecasted by TiVo management.

Subscribe to the Hollywood Reporter and see the entertainment industry from its best angle: the inside looking out. Complete access to real-time news and exclusive analysis that goes behind the scenes from film to television, home video to digital media.

   Subscribe now.