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DirecTV Doubles 1Q Earnings, Topping Views
Satellite-TV provider DirecTV (DTV) more than doubled its first-quarter earnings thanks to higher margins and cash flow, the company reported on Thursday.
The average revenue per subscriber increased 6.4%, while free cash flow doubled to $1.03 billion.
Subscriber additions were 100,000, compared with 460,000 a year ago, yet the company’s Latin American business reported a 30% rise in revenue to $779 million, and an increase in the average monthly bill of 9.5%.
DirecTV reported profit of $558 million, or 59 cents per share, up from $201 million, or 20 cents per share, last year.
Analysts had projected earnings of 45 cents per share.
Revenue rose 14% to $5.61 billion, surpassing the analysts estimate of $5.42 billion.
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