DirecTV posts 4Q profit, revenue up 11 percent

[February 23, 2011]  EL SEGUNDO, Calif. (AP) -- DirecTV, the nation's largest satellite TV operator, says it attracted more new subscribers in the fourth quarter than it has in a decade.

The El Segundo, Calif.-based company says it added a net 667,000 subscribers in the October to December period, reflecting strong performance both in the U.S. and Latin America.

DirecTV Group Inc. says net income was $618 million, or 74 cents per share. That that compares with a loss of $32 million, or 3 cents per share, in the same period of 2009, when it took charges related to a merger.

Analysts polled by FactSet expected earnings of 63 cents per share, on average.

Revenue grew 11 percent to $6.62 billion from $5.98 billion, beating the average analyst estimate of $6.52 billion.

[Associated Press]

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