DirecTV Profit, Sales Beat Estimates, But Posts Net Decline In U.S. Subscribers

DirecTV reported Thursday a third-quarter profit of $611 million, or $1.21 a share, down from $699 million, or $1.28 a share, in the year-earlier period. Excluding non-recurring items, adjusted per-share earnings were $1.33, above the FactSet consensus analyst estimate of $1.30. Revenue rose 6% from last year to $8.37 billion, topping analyst projections of $8.3 billion. In the U.S., sales increased 5% to $6.51 billion, while net subscriber additions was a negative 28, and average monthly churn increased to 1.73% from 1.61% last year. The stock, which wasn't active in premarket trade, has gained 27% so far this year, compared with a 9.5% rise in the S&P 500.

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