DirecTV reported its first ever quarterly net U.S.
subscriber loss in the second quarter, driven by recent moves to reduce churn
and attract higher quality paying customers.
DirecTV stock declined nearly 3% ($1.44 per share) to $48.66
each in early trading Thursday.
The No. 1 satellite TV service provider lost 52,000 net
subscribers in the period, larger than analysts' consensus estimates of a loss
of about 36,000 net customers. The main culprit in the losses appears to be
continued efforts by the company to reduce overall monthly churn, which came in
at 1.53% in the quarter, in line with expectations.