TiVo revenue rises to 7.2% and aims international expansion through Cubiware acquisition

TiVo reported a quarterly revenue increase by 7.2% as its subscribers increased. The company aims to increase international presence by acquiring Cubiware.

The company ended the quarter on a positive note as it gained 7.2% on its revenues. Despite last year's decreased net income from $7.9 million to $8.1 million, TiVo profit per share increased by 1 to 8 cents as its common shares fell. The resulting revenue increase is $114.7 million compared to its previous $107.1 million. Its reported rise is attributed to its recent subscriber growth.

Former customers of Aereo were approached by TiVo offering them an alternative to the pay-TV system that was negatively ruled by the Supreme Court last year. The company offered a package that includes a $49.99 over-the-air DVR along with a device that allows downloads of streamed TV recordings to other devices for a $14.99 monthly premium. Tom Rogers, TiVo CEO say that the company had a solid quarter. Although Rogers is more excited about the company's recent move.

Reports indicated that TiVo is acquiring Cubiware, a Polish company with expertise in creating TV software present in 25 countries outside of the US. The move is aimed at expanding the company's potentials globally. The company's current projected net income for the quarter ranges between $7 million to $10 million. Its projected revenue from service and technology is between $94 million to $97 million.

TiVo continues its efforts to gain more stability coming from a net income fall as compared last year. Aside from the Cubiware acquisition it also entered into a distribution agreement with Frontier Communications. Additionally, the company banks on patent settlements, cloud-based media, brokered distribution as well as over-the-air recording service.

Both TiVo and Cubiware are looking forward to the company's increased visibility internationally. Despite decreased income this new development could bring more positive results to the company.