DirecTV’s net falls 2% as costs rise
Satellite broadcaster DirecTV Group Inc. said second-quarter earnings fell 2% on a sharp rise in operating costs, although demand for its high-definition services increased.
Net income for the El Segundo-based company slipped to $448 million, or 37 cents a share, from $459 million, or 36 cents, a year earlier.
Per-share profit rose because of a reduction in the number of shares outstanding during the latest period.
Analysts had expected profit of 36 cents a share, according to a Thomson Financial poll.
Revenue rose 17% to $4.14 billion; Wall Street had expected revenue of $4.04 billion.
The company had 16.3 million subscribers at the end of the second quarter, up 5% from the same period last year.
Shares fell 13 cents to $21.80.
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