DirecTV Group Posts 5% Drop In Profit

By: Associated Press
By: Associated Press
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EL SEGUNDO, Calif. (AP) -- DirecTV Group Inc. says fourth-quarter profit fell 5 percent on higher customer acquisition costs and interest expense.

The El Segundo, Calif. company earned $332 million, or 32 cents per share, down from $348 million, or 30 cents per share in the year-ago period. Stock buybacks helped boost the most recent quarter's per-share results.

Analysts expected profit of 33 cents per share, on revenue of $5.32 billion, according to Thomson Reuters.

Sales climbed 9 percent to $5.31 billion.

Englewood, Colo.-based Liberty Media Corp. owns 52 percent of the outstanding common stock of DirecTV Group.

Liberty chairman John Malone is also chairman of the DirecTV Group Board of Directors.

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