While the cable and phone companies duke it out, satellite giant DirecTV has been picking off customers left and right. This morning, DirecTV said it added 474,000 net subscribers in Q4, up 35% year-over-year.
DirecTV also beat Wall Street’s sales and profit projections: The company reported Q4 revenues of $4.9 billion, up 17% year-over-year and beating the Street’s $4.8 billion projection. It reported a net profit of $348 million, down from $356 million a year ago. But its 30 cents EPS beat the Street’s 29 cents EPS consensus. What’s leading growth? Latin America, for one, where net subscriber additions more than doubled year-on-year, to almost 200,000.
The company is also doing a good job keeping customers: Its U.S. churn rate, the percentage of subscribers who leave the service each month, was 1.4%, an 8-year low. The company credits the lower churn to “significant growth” of customers with HD and DVR services, and tigher credit policies that attract fewer deadbeat customers. Release.
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