DirecTV's net income boomed in the third quarter after adding on a significant number of subscribers in both Latin America and the United States, the company announced Thursday.
The company's $516 million in earnings is up 8 percent from the year-earlier period, while diluted earnings per share are up 27 percent to $0.70 due to the company's recent buyback of shares. Revenue was up nearly 14 percent to $6.84 billion.
Third quarter net additions soared to an all-time record high of 1.14 million, or 901,000 excluding SkyMexico, as the strength of DirecTV's brands and unparalleled video experience fueled the largest net subscriber gain in DirecTV's history, CEO Mike White said in the company's earnings statement.
There were 574,000 net additions to DirecTV Latin America compared to the year-earlier period. Furthermore, there were 327,000 net additions in the United States, largely attributable to NFL Sunday Ticket Promo, which gives customers access to all NFL football games for no extra charge with a two-year agreement.
White is optimistic about the future.
Looking forward, we plan to build on this momentum by debuting several compelling new products and services, including a greatly enhanced DirecTV Anywhere offering that will enable customers to stream live-TV programming and on-demand movies to their mobile devices, as well as a brand new HD user interface and the much anticipated launch of our home media center, White said.
In addition, DirecTV announced Thursday that it signed a three-year extension with AT&T to continue offering a co-branded DirecTV satellite service across 22 states where AT&T offers residential broadband and phone service. This deal allows bundled service of DirecTV and AT&T broadband, landline and wireless service.
Shares of DirecTV are up 1.88 percent to $46.74 in early afternoon trading.