El Segundo, Calif.-based DirecTV [DTV], the largest U.S. satellite TV operator, is scheduled to report what could be respectable second-quarter earnings Thursday. Bob Peck, a satellite analyst at Bear Stearns, issued a research note today that forecasts DirecTV notching 265,000 net new subscribers, compared with consensus Wall Street estimates of roughly 280,000. He also noted that the company could surprise everyone on the upside due to the loss of 200,000 cable subscribers during the quarter, continued growth by its partner TiVo, an expanded number of markets that now receive local signals and the rollout of a new HD Personal Video Recorder (PVR).

DirecTV’s second-quarter consolidated revenues are expected to hit $2.7 billion, while its EBITDA (earnings before interest, taxes, depreciation and amortization) is projected at $312 million, Peck wrote. He expects DirecTV’s second-quarter earnings per share to reach 6 cents, compared with consensus estimates of 4 cents a share.