Pursuits
DirecTV Profit Beats Estimates on Premium-Service Demand
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DirecTV, the largest U.S. satellite-television provider, posted fourth-quarter profit that beat analysts’ estimates on rising demand for high-definition and digital-video recording services. The stock advanced.
Net income was $618 million, or 74 cents a share, compared with a loss of $32 million, or 3 cents, a year earlier, El Segundo, California-based DirecTV said today in a statement. Analysts predicted 63 cents, the average of estimates compiled by Bloomberg. Sales rose 11 percent, also exceeding projections.