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DirecTV U.S. adds subs, increases revenues in Q3 2007

Wed, 11/07/2007 - 8:00am
Traci Patterson

In Q3, The DirecTV Group Inc. added 240,000 net U.S. subscribers, an increase of 45 percent year-over-year, bringing the total number of U.S. subscribers to 16.6 million - an increase of 6 percent compared with the year-ago quarter.

In the quarter, DirecTV’s U.S. revenues increased 14 percent, to $3.9 billion, due to strong ARPU growth and the larger subscriber base, the company said.

Gross subscriber additions in the U.S. increased to 1.03 million, and average monthly churn declined to 1.6 percent, primarily due to increased sales of HD and DVR services, as well as increased demand through the direct sales channel. More than 50 percent of new subscribers in the quarter signed up for HD and/or DVR services, compared with only 28 percent a year ago.

The DirecTV Group’s net subscriber additions nearly doubled - to 401,000. Average monthly revenue per subscriber (ARPU) grew 8.3 percent, to $78.8 million.

The DirecTV Group’s revenues increased 18 percent, to more than $4.3 billion, but the group’s operating profit declined 10 percent, to $566 million, and net income fell 14 percent, to $319 million, compared with Q3 2006. DirecTV Latin America revenues increased 67 percent, to $442 million.

“Similar to our third quarter results, we're expecting continued strong operating performance in the coming quarters as we continue to enhance the nation's already-best HD service,” said Chase Carey, The DirecTV Group’s president and CEO. “We currently offer 74 national HD channels - more than any cable TV provider in the U.S. - and we remain on schedule to offer up to 100 channels around the end of the year.”

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