DirecTV Group posts flat Q3 earnings

Satellite TV giant's quarterly profit edges up 1%

DirecTV Group posted virtually flat third-quarter earnings on Thursday as it reported higher subscriber acquisition costs and slowed net subscriber gains, citing stronger competition and increased disconnects.

The satellite TV giant's quarterly profit edged up 1% to $366 million despite a revenue gain of 10% to nearly $5.5 billion.

In the U.S., DirecTV recorded 136,000 net subscriber additions, down from 156,000 in the year-ago period. Churn, which tracks subscriber losses, rose from 1.64% to 1.72%.

"DirecTV's third quarter results are consistent with our goal to drive substantial cash flow growth through a strategy of offering the best television experience to higher quality subscribers," said Larry Hunter, interim CEO.