The DIRECTV Group reported Q2 revenue of $4.14 billion, up 17% year over year, operating profit of $740 million, and net income of $448 million. Earnings per share were $0.37 compared with $0.36 in the same period last year. Some highlights:
- There was nearly 7% increase in ARPU to $76.43 due in large part to approximately 50% more high definition (HD) and digital video recorder (DVR) customers in the quarter.
- Gross subscriber additions were 900,000 and net subscriber additions were 128,000 for DIRECTV U.S.
- The monthly churn rate for DIRECTV U.S. was 1.58%
- The total number of DIRECTV U.S. subscribers as of June 30, 2007 to 16.32 million, an increase of 5% over the 15.51 million subscribers reported on June 30, 2006.
- DIRECTV Latin America achieved net subscriber additions of 141,000 propelled by higher gross additions of 260,000 and a lower monthly churn of 1.38%.
- The total number of DIRECTV subscribers in Latin America as of June 30, 2007 increased to 2.94 million compared to 1.73 million as of June 30, 2006 due to the 869,000 subscribers added as a result of the merger with Sky Brazil in the third quarter of 2006 as well as the new subscribers added throughout the region over the past year.
"In light of the rapidly growing demand for advanced services in the United States, it is particularly exciting to look ahead a couple of months when we leapfrog the competition by offering up to 100 national HD channels," said Chase Carey, president and CEO of The DIRECTV Group. http://www.directv.com
