DirecTV subscriber growth drops sharply to 67,000 in Q3 2012
DirecTV (Nasdaq: DTV) said Tuesday that it grew its subscriber base by just 67,000 during the third quarter. That's a significant drop from the third quarter of last year, when the top satellite TV provider gained a record 327,000 net new subscribers.
But DirecTV's subscriber performance was still an improvement compared to the second quarter, when it lost 52,000 subscribers, which marked the first time since 1994 that it ended an earnings period with fewer customers.
DirecTV posted $7.42 billion in third quarter revenue, up 8 percent compared to this year. It attributed the growth to the performance of its Latin America division and 4.6 percent increase in average revenue per unit at its U.S. operation.
Net income at DirecTV increased 9 percent to $565 million. It posted diluted earnings per share of 90 cents, up 29 percent compared to the third quarter of 2011.
- see the earnings release
Special Report: Cable in the third quarter of 2012