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Share Name | Share Symbol | Market | Type |
---|---|---|---|
AT&T Inc | NYSE:T | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
-0.09 | -0.53% | 16.83 | 16.99 | 16.73 | 16.95 | 32,167,919 | 01:00:00 |
By Chelsey Dulaney
DirecTV on Tuesday said strong subscriber growth and price increases in its U.S. division during the first quarter helped to offset weakness in Latin America, as the satellite-television provider said it expects its deal to be bought by AT&T Inc. to close in the current quarter.
The $49 billion deal between AT&T and DirecTV is expected to be yet another major transformation for the communications industry. With increasing competition from competitors such as T-Mobile U.S. Inc., AT&T looks to challenge rival telecom Verizon Communications Inc. in the TV space.
In the most recent period, DirecTV's U.S. division added a net 60,000 new customers, compared with 12,000 additions a year earlier. Its churn rate was 1.37%, down from 1.45% a year earlier and its lowest first-quarter rate in six years.
U.S. revenue grew 6.1% to $6.46 billion. Average monthly revenue per subscriber, meanwhile, rose to $105.62 from $100.16 a year earlier due in part to price increases on programming packages and regional sports networks.
Overall, the company posted quarterly earnings of $730 million, or $1.44 a share, up from $561 million, or $1.09 a share, a year earlier.
Revenue grew 3.7% to $8.14 billion.
Analysts polled by Thomson Reuters had projected earnings of $1.53 a share and revenue of $8.15 billion.
In its Latin America division, subscriber growth slowed to 219,000 net additions in the latest quarter from 361,000 a year earlier.
Churn rate grew to 2.15% from 1.85%, while revenue fell 5% to $1.64 billion.
DirecTV said its results in Latin America were weighed by foreign exchange headwinds.
Write to Chelsey Dulaney at Chelsey.Dulaney@wsj.com
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