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TiVo Drops In After-Hours Following Quarterly Results
8/27/2008 4:23 PM ET
(RTTNews) -
TiVo (TIVO: News ) is dropping during Wednesday's after-hours trading following the release of quarterly results. At 4:20 pm ET the stock is trading at $7.62 down $0.33 from Tuesday's close.
With the decline, the stock stands to open having reversed some recent gains.
The company posted second quarter net income of $2.9 million, or $0.03 per share, compared to a loss of $17.6 million, or $0.18 per share, in last year quarter.
On average, 8 analysts polled by First Call/Thomson Financial expected the company to report a loss of $0.02 per share.
Quarterly revenues were $65.2 million, up from $62.6 million in the previous year quarter. Six Wall Street analysts expected revenues of $55.35 million.
Looking forward, for the third quarter of fiscal 2009, TiVo expects a net loss in the range of $7 to $9 million and service and technology revenues in the range of $49 to $51 million.
by RTT Staff Writer
For comments and feedback: contact editorial@rttnews.com
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