TiVo loss smaller than forecast

By Gabriel Madway

SAN FRANCISCO (Reuters) - TiVo Inc (TIVO.O) posted its second straight quarterly loss but it was smaller than expected, as the digital video recorder maker reined in costs to offset sliding revenue and slowing user growth.

The company's shares slid 1 percent in extended trading after rising 2 percent immediately following the results.

Chief Executive Tom Rogers said the company got an unexpected boost in the quarter when its churn rate -- or subscriber loss -- edged up only slightly despite a gloomy economy that pinched consumer spending.

Rogers said in an interview with Reuters that TiVo's financials were proving doubters wrong, and that the company will continue to drive for subscriber and distribution growth.

"It was not long ago that many people questioned the overall financial viability of TiVo, and I think we've put together a good track record."

The company said on Wednesday it swung to a net loss of $4.1 million, or 4 cents a share, in the fiscal first quarter ended April 30, from a profit of $3.6 million, or 4 cents a share, in the year-ago period.

The average analyst estimate was for a loss of 6 cents a share, according to Reuters Estimates.

Key service and technology revenue was $48.5 million, compared with an average Wall Street estimate of $48.2 million.