The digital video recorder company TiVo has reported revenue and profit results for the first quarter of fiscal year 2015 that exceeded analyst estimates.
The company's total revenue costs rose by approximately 16 percent to $44.1 million while its net revenue rose approximately 7.2 percent to $114.7 million, Reuters reports. Previous revenue estimates were slated at $91.5 million.
Following news of Tuesday's announcement, TiVo's stock shares rose 6.2 percent. TiVo officials also revealed plans for an acquisition of Cubiware, a Poland-based digital television software company.
"We will continue to look at acquisitions that we think make strategic sense," TiVo Chief Executive Tom Rogers said in an interview with Reuters.
Rogers also added that the company is looking at "a lot of things."
Although Cubiware is based in Poland, the company conducts business all across the world. In fact, TiVo's acquisition is expected to help the digital video recorder company expand into 25 new countries.
Specific information about acquisition figures have not been released. TiVo was founded in 1999.
