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TiVo reported positive results in its first quarter, as revenue more than tripled because of a growing subscriber base and strong demand for its PVRs.

For the quarter ended April 30, the company reported a net loss of $35 million, or 74 cents a share, compared with a net loss of $50.2 million, or $1.20 a share, in the same period last year.

Earlier this month, AOL canceled its plans to build an AOL TV set-top box jointly with TiVo. As a result, TiVo returned $48 million of the $200 million that AOL invested in it two years ago.

TiVo said it added about 42,000 new subscribers in the first quarter, bringing its subscriber base to more than 422,000. The company attributed the positive subscriber growth to customer demand and the early launch of its next-generation PVR, TiVo Series2.

For the second quarter, it expects to add another 40,000 to 45,000 new subscribers.

From SkyReport (Used with Permission)
 
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