DirecTV Sees More U.S. Subscriber Growth In Q4
Greg Tarr -- TWICE, 2/16/2012
El Segundo, Calif. - DirecTV saw another bump up in U.S. subscriber totals during the fourth quarter of 2011, though at a slower rate than in recent periods, and it revealed record new additions in Latin America.DirecTV reported a net gain of 125,000 U.S. customers, down from 327,000 net additions in the previous quarter, as its churn rate grew slightly to 1.52 percent from a year ago.
Average revenue per U.S. subscriber rose $4.74, to $101.38.
The company also added 590,000 customers in Latin America, topping the record 574,000 achieved in the previous quarter. Sales increased 13 percent to $7.46 billion, also beating estimates.
Net income rose 16 percent to $718 million, from $618 million a year earlier, and DirecTV revealed plans for a new $6 billion share-buyback program.
According to a Reuters report, Warren Buffett's Berkshire Hathaway increased its position in the company three weeks ago to a nearly 3 percent stake, making the firm one of DirecTV's top 10 shareholders.
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