TiVO Q1 EPS Beats, Q2 Forecast Falls Short

TiVo (TIVO) this evening reported fiscal Q1 revenue for the three months ending April 30 in line with estimates and a loss one penny less than expected. Sales fell 12%, year over year, to $48.5 million, in line with the $48.6 million analysts modeled, while the net loss of 4 cents per share was better than the 5 cents expected and better than the company’s forecast. The company does not refer to total revenues in its headline numbers, including sales of its recorder hardware. Instead it counts only “service and technology” revenue, which is what the Street looks at. For Q2, the company sees service and tech revenue of $47 million to $49 million, with a net loss of $6 million to $8 million and adjusted Ebitda of breakeven to $2 million. The sales and Ebitda figures are better than the consensus $47.38 million and $780,000 recorded by Thomson Reuters, but the Street has been looking for only $2.38 million in net loss. The deep net income shortfall is going to come as a shock ... (link)