DirecTV Profit Trails Estimates as it Loses Subscribers

Features Reuters

Satellite TV provider DirecTV's (DTV) profit and revenue rose in the second quarter but it lost more subscribers in the United States than analysts had expected.

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For the three months ended June 30, DirecTV lost 52,000 subscribers. Analysts on average had forecast a loss of 36,000, according to StreetAccount data.

In Latin America, it added 645,000 new subscribers, which beat analysts' estimates of 549,000 subscribers. 

Net income rose to $711 million, or $1.09 per share, from $701 million, or 91 cents a share, a year earlier. DirecTV's revenue rose 9% to $7.2 billion. Analysts had projected revenue of $7.21 billion, according to Thomson Reuters I/B/E/S.