DirecTV Nets 326K Subs in Quarter

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From our friends at SkyReport.com

As expected, DirecTV reported a significant third quarter jump in subscribers.

Excluding subscribers in National Rural Telecommunications Cooperative territories, DirecTV added 811,000 gross subscribers, and after accounting for churn 326,000 net subscribers for the third quarter. DirecTV's owned and operated subscribers totaled 10.28 million as of Sept. 30.

DirecTV's total subscriber base stood at 11.85 million at the end of the quarter.

Hughes Electronics, parent of DirecTV, reported third quarter revenues increased 17 percent to $2.57 billion, compared with $2.19 billion reported in third quarter 2002.

The company said third quarter operating profit increased to $77 million, compared with operating profit of $16 million for the same three-month period last year. In addition, Hughes reported a third quarter net loss of $23 million, compared to a net loss of $14 million for the same period in 2002.

DirecTV President Roxanne Austin said the company continues to attract cable subscribers, with about 45 percent of new customer additions having digital cable before signing up for the small dish service. Austin said the DirecTV business has "room for significant growth."
 
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