TiVo: 2Q Earnings Snapshot
SAN CARLOS, Calif. (AP) _ TiVo Inc. (TIVO) on Wednesday reported a loss of $20.6 million in its second quarter.
The San Carlos, California-based company said it had a loss of 17 cents per share. Earnings, adjusted for one-time gains and costs, came to 17 cents per share.
The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 27 cents per share.
The digital video recording company posted revenue of $172.9 million in the period, also missing Street forecasts. Three analysts surveyed by Zacks expected $178.4 million.
TiVo shares have dropped 22 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $12.15, a decline of 34 percent in the last 12 months.