TiVo (TIVO) Losses Widen To $14 Million

TiVo Inc TIVO on Tuesday after the market closed released financial results that beat Wall Street expectations. TiVo Inc reported that its 1st quarter loss widened to $14.2 million, or 13 cents per share, from a loss of $3.9 million, or 4 cents per share, a year earlier. Revenue rose 11 percent to $61.4 million. Excluding hardware revenue, TiVo Inc reported that service and technology revenue fell to $43.2 million, down from $48.5 million a year earlier. A poll of analysts conducted by Thomson Reuters showed an average Wall Street estimate of an expected loss of 16 cents per share, on service and technology revenue of $42.8 million. Higher legal fees from TiVo Inc's lawsuit against Dish Network Corporation DISH were to blame for the widening losses.