The DirecTV Group Inc. reported first quarter revenues of $3.15 billion, an increase of 26 percent from first quarter revenues in 2004.The company’s net loss dropped from $639 million to $41 million during the same period.
During the 2005 first quarter, DirecTV added a record 505,000 net subscribers to its direct-to-home satellite television service and also posted a record 1.14 million gross subscriber additions. DirecTV reported an increase in average monthly revenue per subscriber to $65.78 in the first quarter of 2005, up from $63.57 in the first quarter of 2004. Churn increased slightly during the period, growing to 1.49 percent in the just finished first quarter from 1.43 percent during the same period last year.
The growth in revenues demonstrates “that we are beginning to see the benefits from our improved operating performance, including efficiencies gained in the former [National Rural Telecommunications Cooperative] territories.” DirecTV Group President and CEO Chase Carey said in a prepared statement. “Although these results reflect steady progress in key operating areas such as churn, upgrade and retention marketing and subscriber acquisition costs, we still have much to accomplish as we continue to drive profitable growth.”
