DirecTV Q2 profit, eyes Hulu
August 5, 2011
US satellite TV provider DirecTV reported second-quarter net income up 29 per cent, beating expectations, as it added 472,000 net new subscribers in Latin America. US subscriber growth was below forecasts at 26,000 – but the new additions were still enough to push the company beyond the milestone of 30 million subscribers.
DirecTV reported earnings of $701 million, or 91 cents a share, up from $543 million, or 42 cents a share, a year earlier. Revenue climbed 13 per cent to $6.6 billion
Meanwhile, CEO Michael White said DirecTV is interested in potentially buying online video service Hulu, which could accelerate the company’s push to offer its video package on mobile devices.
DirecTV rival Dish Network is also considering a move for Hulu according to various reports.