DirecTV up 10%

DirecTV's first-quarter net income rose 10 per cent amid higher net subscriber additions and a lower subscriber cancellation rate. The company reported net income of $371 million, up from $336 million, a year earlier. Revenue rose 17 per cent to $4.59 billion.

DirecTV said US net subscriber additions rose 17 per cent to 275,000, putting the total at 17 million, up 5.2 per cent. Average revenue per subscriber increased 8.6 per cent and average subscriber-acquisition costs climbed 6.7 per cent. The monthly churn rate fell to 1.36 per cent from 1.44 per cent.

In April, Liberty Media boosted its stake in DirecTV to 48 per cent after buying nearly $2 billion of the company’s stock. In February, DirecTV said it is expecting $20 billion of US revenue in 2010. The company said at the time it anticipates cumulative net subscriber additions of 1.5 million to 2 million over the next three years.

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