DirecTV's Q1 earnings falls after Venezuela currency hit

Tue May 7, 2013 7:52am EDT

May 7 (Reuters) - Satellite TV provider DirecTV said on Tuesday that first-quarter net income fell after a $166 million charge related to a Venezuelan currency devaluation in February.

Net income attributable to DirecTV was $690 million, or $1.20 per share, compared with $731 million, or $1.07 per share, a year ago.

Revenue rose 8 percent to $7.58 billion. Analysts expected revenue of $7.5 billion, according to Thomson Reuters I/B/E/S.

In the United States, it added 21,000 net subscribers. Wall Street expected an addition of 25,000 net subscribers, on average, according to StreetAccount.

In Latin America, the greatest driver of its business, it added 583,000 subscribers, while StreetAccount looked for 519,000 subscribers.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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