Satellite provider DirecTV (Nasdaq: DTV) showed that a pay TV company can add subscribers and make money at the same time.
The largest satellite TV company in the United States said it added 611,000 new subscribers in the first quarter--427,000 in Latin America and 184,000 in the U.S.--and jacked up revenues 13 percent to $6.32 billion. Operating profit was up 21 percent to $1.16 billion year-over-year and first quarter net income jumped 21 percent to $674 million, the company said.
The subscriber gains were the second highest total behind 667,000 subscribers who cam aboard in the fourth quarter last year and are part of "one of our best years ever," said Mike White, president-CEO.
- see this news release
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