El Segundo, Calif. –
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.
