DIRECTV Posts Higher Profit, Strong Subscriber Gains

EL SEGUNDO: DIRECTV had 139,000 net U.S. additions for its third quarter, bringing its total subscribers to more than 37 million, with about 17 million subs in Latin America.

These gains came in the same quarter that Time Warner Cable reported a loss of 306,000 video subscribers.

Q3 revenues grew 6 percent to $7.9 billion from the prior quarter. Operating profit before depreciation and amortization (OPBDA) increased 15 percent to $1.9 billion. Net income was $699 million, an improvement from the $565 million in the previous quarter.

Average revenue per customer rose 6.2 percent to $102.37.

“DIRECTV’s diversified portfolio of businesses across the Americas delivered another solid quarter of consolidated results highlighted by strong top-line growth and continued operational discipline across disparate geographies, macro-economic conditions and competitive environments,” said Mike White, the president and CEO of DIRECTV. “We continue to extend our position as the world’s largest pay-TV service by leveraging the strength of our premier brands and our differentiated suite of products and services across the Americas to drive industry leading growth.”

White added, “At the same time, our commitment to profitably grow our businesses through disciplined expense management and productivity improvements was clearly a highlight as operating profit before depreciation and amortization margin expanded driving double digit OPBDA and cash flow growth in the quarter.”