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DirecTV Profit Falls On Price Cuts
Promotional price cuts designed to lure new satellite-television customers led to a 46% drop in DirecTV's(DTV Quote) first-quarter profits.
The company said it earned $201 million, or 20 cents a share in the quarter, well below analysts' EPS estimates of 33 cents. A year ago, DirecTV's earnings were $371 million, or 32 cents a share.
The company also blamed its decline in operating profit on having to service the interest on higher debt balances. ...
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