By Lisa Johnston
New products on display at the American International Toy Fair, held in N
El Segundo, Calif. – DirecTV Tuesday reported a 5.6 percent decline in first-quarter profits but still managed to tally subscriber gains in Latin America and the United States.
The company reported earnings of $690 million, last quarter, compared with a $721 million profit from the year-ago period.
But on an adjusted basis, earnings rose to $826 million. Revenue rose 8 percent to $7.58 billion.
DirecTV reported a $166 million charge tied to the devaluation of Venezuelan currency earlier this year.
Revenue rose 8 percent to $7.58 billion in the quarter.
The company added 21,000 net new U.S. subscribers in the period, compared with 81,000 in the first quarter a year earlier. It ended March with 20.1 million U.S. subscribers.
DirecTV Latin America added 583,000 net new subscribers, compared with 593,000 a year ago. The company now has more than 16 million Latin American subscribers.
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