DirecTV Adds 328,000 Subscribers in the First Quarter

Getty Images
CEO of AT&T Entertainment Group John Stankey

Parent company AT&T is "the world's largest provider of pay TV."

DirecTV added 328,000 subscribers in the first quarter, though with defections from U-Verse, parent AT&T reported a loss of 54,000 video additions.

At the end of the quarter, AT&T had 25.3 million video subscribers.

AT&T made the disclosure on Tuesday when it reported earning an adjusted 72 cents per share on revenue of $40.5 billion, beating analysts' estimates of 69 cents per share on $40.46 billion revenue.

The telecommunications company said revenue rose 24 percent year-over-year, while adjusted earnings per share was up 11 percent and free cash flow rose 17 percent to $3.2 billion.

The company's video business showed revenue of $12.7 billion in the quarter, up 3.1 percent compared to a year earlier. 

AT&T bought DirecTV for $48.5 billion last year, making it "the world's largest provider of pay TV," with customers in the U.S. and 11 Latin American countries.

Despite reporting financial results that beat the expectations of analysts, shares of AT&T were falling slightly in after-hours trading on Tuesday.

comments powered by Disqus