By Ben Fox Rubin
DirecTV's (DTV) third-quarter profit grew 24% as the
satellite-television provider continued to boost its subscriber
rolls in the U.S. and Latin America.
Net subscriber gains in DirecTV's U.S business totaled 139,000,
compared with 67,000 a year earlier. The total subscriber base was
about 20.2 million by the end of the quarter, up from about 20
million a year earlier. Revenue in the region rose 7% to $6.17
billion.
DirecTV has had to adjust its U.S. strategy as its cable rivals
have been able to make up for softness in the mature video
business, with growth in broadband and other services that
satellite operators can't provide as well. The company increasingly
has looked to Latin America as a source of growth.
The company added net 260,000 subscribers in Latin America,
versus 543,000 subscribers added a year earlier. The company had a
total of 11.3 million subscribers in the region, up from 9.7
million the year earlier. Revenue was up 5.4% at $1.66 billion.
DirecTV reported a profit of $699 million, or $1.28 a share,
versus $565 million, or 90 cents a share, a year ago. Revenue
improved 6.3% to $7.88 billion.
Analysts were looking for earnings of $1.01 a share on $7.84
billion in revenue, according to a poll conducted by Thomson
Reuters.
Shares closed Monday at $64.37 and were inactive in recent
premarket trading. The stock has risen 28% so far this year.
Write to Ben Fox Rubin at ben.rubin@wsj.com
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