EL SEGUNDO, Calif. -- Digital television provider DirecTV says first-quarter earnings rose 10 percent, and that it will raise up to $2.5 billion of debt to buy back up to $3 billion of its own stock.

El Segundo, Calif.-based DirecTV says net income climbed to $371 million, or 32 cents per share, from $336 million, or 27 cents per share, a year ago.

Revenue climbed 17 percent to $4.59 billion from $3.91 billion, as demand for HD and DVR services drove a 14 percent rise in DirecTV U.S. sales.

Analysts surveyed by Thomson Financial expected profit of 31 cents per share on revenue of $4.47 billion.

The company will sell $1.35 billion of senior notes and borrow about $1 billion under its credit line to fund the buyback.