TiVo today reported $835,000 income for the first quarter of 2007, showing he first profit in the company's history. That amounts to about $.01 per share, which is better than the $.02 per share loss many analysts had been predicting.The company has fewer subscribers than it had during the same period last year. But service and hardware revenues rose while technology revenues fell. At the same time, the company's administrative expenses dropped nearly $4 million from last quarter.
While TiVo faces stiff competition from cable and satellite companies deploying their own personal video recorders, the company has managed to hang on to market share, both by partnering with cable providers and by continuing to offer new services like Universal Swivel Search.
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