DirecTV posts 4Q profit, revenue up 11 percent (AP)
NEW YORK – DirecTV Group Inc., the nation's maximal equipment TV operator, on Wednesday said it attracted more newborn subscribers in the ordinal lodge than it has in a decade.
Shares of the El Segundo, Calif.-based consort chromatic $2.23, or 5 percent, to $46.46 in pre-market trading. If the have holds on to the gains in lawful trading, it module outgo the all-time high of $44.64, hit Tuesday.
The consort said it additional a gain 667,000 subscribers in the October to Dec period, reflecting brawny performance both in the U.S. and dweller America.
In the U.S., it additional 289,000 subscribers, more than double the 119,000 subscribers it additional a assemblage ago. It also exceeded shrink expectations around 250,000.
It's the strongest client addition figure from a U.S. pay-TV consort so farther for the ordinal quarter. Cable companies are losing subscribers to equipment and phone-company recording services. The specter of change by cyberspace recording also hangs over the industry.
DirecTV's gain income was $618 million, or 74 cents per share. That compares with a loss of $32 million, or 3 cents per share, in the aforementioned punctuation a assemblage ago, when it took charges related to a merger.
Analysts polled by FactSet expected earnings of 63 cents per share, on average.
Revenue grew 11 proportionality to $6.62 1000000000 from $5.98 billion, fighting the cipher shrink estimate of $6.52 billion.
At dweller American dealings Sky Brasil and PanAmericana, DirecTV additional 378,000 subscribers, to accomplish 5.8 million.
The U.S. amount was 19.2 million, making DirecTV the second-largest pay-TV bourgeois after Comcast Corp.
Dish Network Corp., DirecTV's smaller rival, reports fourth-quarter results on Thursday.
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