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DirecTV loses US subscribers for first time in second quarter, as pay-TV market tightens
NEW YORK (AP) ¯¯¯ DirecTV, the country's largest provider of satellite TV services, is losing subscribers for the first time, as the company reined in promotions and consumer appetite for pay-TV services appears to have plateaued.
DirecTV Inc. says it lost 52,000 U.S. subscribers in the April-to-June period. Last year, it added 26,000 in the same period, which is the weakest of the year.
Most other pay-TV companies have reported worsening subscriber trends in the quarter.
Rapid subscriber gains in Latin America buoyed DirecTV's results, but earnings missed expectations. Net income was $711 million, or $1.09 per share, compared with $701 million, or 91 cents per share, a year ago. Analysts polled by FactSet were on average expecting $1.14 per share.
Revenue rose 9 percent to $7.2 billion.