DirecTV to Add 200,000 Subscribers in Fourth Quarter
NEW YORK (
) --
DirecTV
(DTV)
CEO Mike White said the satellite-TV provider expects to add a net 200,000 U.S. subscribers in the fourth quarter and see earnings of $5 per share by 2013 at its investor event Thursday.
"We're continuing to see momentum," White said at the event. "DirecTV is well positioned for continued success."
White forecasts that DirecTV will report earnings of about $30 billion, or $5 per share, in 2013. That would be significantly higher than its most recent quarterly report in which it saw earnings $479, or 55 cents per diluted share.
Management expects its subscriber base to reach 30 million by 2013, about 10 million higher than its most recent subscriber mark.
The company ended the third quarter with a total of 18.9 million U.S. subscribers, up 2.7% from 18.4 million subscribers at the end of the third quarter in 2009.
>>DirecTV Gains on Subscriber Growth
DirecTV also added 206,000 net subscribers in Latin America in the third quarter, bringing the cumulative number of subscribers in the region to 5.4 million. Revenue from the segment was up 22%.
DirecTV's Latin America region president Bruce Churchill predicts his segment's earnings will see a 20% increase in 2011.
DirecTV was down almost 1% at market close on Thursday to $40.91. Almost 13.9 million shares traded hands, up from the average three-month volume of 7 million. The stock is up more than 23% over the past year.
--Written by Theresa McCabe in Boston.
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