SOURCE: SKYReport.com; 02.08.07
‘DIRECTV was expected to report an uptick in subscribers and an improvement in financial numbers for the fourth quarter. The satellite TV giant did that and much more.
DIRECTV reported 275,000 net customer additions for the three-month period that ended Dec. 31, putting the service’s overall subscriber count at 15.95 million.
Gross subscriber additions for the satellite TV giant numbered 1.021 million, an increase of 6 percent when compared to fourth quarter 2005. The net subscriber additions and gross customer counts met most - and beat some - Wall Street expectations.The subscriber numbers were helped by a drop in monthly churn, which went from 1.7 percent during the same period last year to 1.57 percent for fourth quarter 2006. That represented the biggest improvement in churn figures in more than three years, the company said.
Also, during a conference call with analysts, DIRECTV executives said about 200,000 customers were upgraded to HDTV service during the fourth quarter. DIRECTV CEO Chase Carey said he expects 2007 subscriber growth to mirror what happened last year.
Carey also said this year will be a big deal for the satellite TV company’s move into a robust HDTV slate. The expanded HDTV offering is relying on the launch of a new satellite, set for the second half of the year.
DIRECTV said fourth quarter net income more than doubled to $356 million when compared to the same period last year. Fourth quarter revenues increased 16 percent to $4.18 billion, the company said.’
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