TiVo, a brand of digital video recorder (DVR), announced significant increase of first-quarter net income due to reduced operating costs.
The income constituted $3.6 million, or 4 cents per share, that is up 336 percent from $835,000, or 1 cent per share, in the same period a year earlier.
The company’s revenue for services and technology gained $54.9 million, down from $58.1 million the previous year.
TiVo reported that it had 3.8 million total subscribers in the first quarter, compared with 4.3 million in the same period a year ago.
As for forecasts, the company expects a net loss of $2 million to $4 million in the current quarter on service and technology revenue of $53 million to $55 million.
The company’s stock closed at $8.10, down 16 cents or 1.9 percent, on Wednesday. After-hours trading added 2 cents to shares.
Russian Finance Minister Anton Siluanov announced a possible move that Russia can take in response to new US sanctions
Not that long ago, American soldiers would train their skills to counter insurgent and partisan military organizations. These days, they are trained to show resistance to the regular army of a potential adversary
The Central Bank of Turkey announced measures to protect the financial market of Turkey against the background of the collapse of the Turkish lira and conflict of interests with the United States of America