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DirecTV Post Q1 Sub Gains, But Profits Dip

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.