DirecTV Stock Up on Best Quarter in a Decade

Revenues up 11 percent; company adds 667K new net subscribers

Last Updated: February 23, 2011 @ 9:54 AM

DirecTV reported an 11 percent increase in revenue Wednesday for its best quarter in 10 years.

The nation's largest satellite TV operator reported 667,000 net new subscribers in the fourth quarter. The number of net subscribers was up 79 percent over the fourth quarter of 2009.

In the U.S. it had net additions of 289,000, more the double the year before.

Its revenue grew to $6.62 billion, beating the average analyst estimate of $6.52 billion.

The stock was at 46.18 soon after Wednesday's opening, up 4.41 percent. It beat its all-time high of 44.64 it hit Tuesday.