DirecTV loses subscribers for 1st time in Q2
DirecTV, the country's largest provider of satellite TV services, is losing subscribers for the first time, as the company reined in promotions and consumer appetite for pay-TV services appears to have plateaued.
DirecTV says it lost 52,000 U.S. subscribers in the April-to-June period. Last year, it added 26,000 in the same period, which is the weakest of the year.
Most other pay-TV companies have reported worsening subscriber trends in the quarter.
Rapid subscriber gains in Latin America buoyed DirecTV's results, but earnings missed expectations. Net income was $711 million, or $1.09 per share, compared with $701 million, or 91 cents per share, a year ago. Analysts polled by FactSet were on average expecting $1.14 per share.
Revenue rose 9 percent to $7.2 billion.