DirecTV profits up 21%
May 5, 2011
DirecTV, the largest US DTH provider, has reported first-quarter profit that saw net income climb 21 per cent to $674 million, up from $558 million a year.
DirecTV added a record net 427,000 subscribers in Latin America, compared with 221,000 a year earlier. Across all markets, it added 611,000 customers.
DirecTV has exceeded analyst estimates for six consecutive quarters as consumers show a willingness to pay for premium video content such as NFL games. The company bought back $1.41 billion in shares, part of a $6 billion share repurchase programme announced last quarter.
In the US its subscriber base ended the period at 19.4 million, up 4 per cent from a year earlier. Churn, the rate of subscriber cancellations, rose to 1.5 per cent from 1.48 per cent. Average revenue per subscriber rose 3.9 per cent.
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