DirecTV Reports Solid Q4

103,000 net new subscribers on target with estimates
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DirecTV reported solid fourth quarter results Thursday, adding 103,000 net new subscribers at its U.S. operations, slightly ahead of analysts' consensus targets of 96,000 additions.

U.S. revenue increased 5% to $6.3 billion and operating income before depreciation and amortization rose 6% to $1.4 billion in the quarter. Average monthly subscriber churn was down from the previous year to 1.4% from 1.5% in 2011.

In a research note, Morgan Stanley media analyst Ben Swinburne said the results indicate early success in DirecTV's focus on customer retention, adding that churn improvement could play a vital role in future growth for the satellite giant.

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