DirecTV Posts Revenue, Profit Gains For Q3
By Greg Tarr -- TWICE, 11/5/2009
El Segundo, Calif. - DirecTV reported a double-digit gain in revenues and a net income gain for the third quarter, ended Sept. 30.
Revenues increased 10 percent to $5.47 billion compared with the same time last year while year-on-year net income attributable to the DirecTV group rose $3 million to $366 million. Operating profit was $685 million, compared with the prior year's $658 million.
"DirecTV's third-quarter results are consistent with our goal to drive substantial cash flow growth through a strategy of offering the best television experience to higher quality subscribers," said Larry Hunter, interim CEO.
"In the United States, DirecTV revenues increased 9 percent to $4.7 billion due to solid subscriber and ARPU growth. Continued robust demand for our service fueled an 8 percent increase in gross additions to 1.1 million subscribers and net additions of 136,000 primarily due to the addition of AT&T as a marketing partner and record demand for our industry-leading HD and DVR services."
Hunter continued, "In fact, about two-thirds of new subscribers signed up for HD and/or DVR services in the quarter, representing the highest level in our history."
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