DirecTV forecasts strong profit growth by 2016

Thu Dec 12, 2013 9:57am EST

Dec 12 (Reuters) - Satellite TV provider DirecTV said it expects earnings of $8 per share by 2016, a more than 15 percent compounded annual growth, helped by strong subscriber additions.

The company's projections exclude results from Venezuela due to the huge currency devaluation.

DirecTV also forecast free cash flow per share to grow by more than a quarter by 2016, excluding results from Venezuela.

The company added 139,000 net subscribers in the United States in the third quarter, nearly double the gain of 70,000 that analysts expected. (Reporting by Soham Chatterjee; Editing by Sriraj Kalluvila)