TiVo's revenue beat estimates, shares rise

Reuters News
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Posted: Aug 24, 2011 6:46 PM

NEW YORK (Reuters) - TiVo Inc, the maker of digital video recorders, said revenue rose 19 percent as it signed new deals with cable operators to use its technology, sending its shares up more than 1 percent.

In the second quarter, TiVo Inc <TIVO.O> posted a loss of $19 million, or 17 cents per share, compared with a loss of $14.3 million, or 13 cents a share, in the same period a year ago.

Revenue rose 19 percent to $61.1 million compared with $51.5 million a year earlier. This beat analysts' expectations of $48.31 million.

Its stock was at $8.15 per share in after hours trading after closing 8 pct higher at $8.79 per share on the Nasdaq.

(Reporting by Liana B. Baker; editing by Andre Grenon)