HD Drives DirecTV in 1Q

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DirecTV group reported strong first-quarter financial results across the board.

The direct-broadcast satellite provider posted revenue of $3.91 billion, up 15% compared with the year-earlier quarter, and operating profit before depreciation and amortization of $930 million, up 54%.

Operating profit was up 44% to $563 million and net income rose 43% to $336 million. The company’s earnings per share were $0.27 versus $0.17 in the first quarter of 2006.

“Particularly noteworthy was the significant growth in advanced products in the quarter, including the addition of nearly twice as many HD customers compared to the prior year,” CEO Chase Carey said in a prepared statement.

“With the successful launch of DirecTV 10 -- currently targeted to lift off in late June -- we remain on schedule to offer up to 100 HD channels by the end of this year,” he added. “With this added capacity, we expect to offer significantly more HD channels than most of our competitors, providing DirecTV with an important advantage in this rapidly growing market.”

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