Hughes Electronics Corp., the parent company of DirecTV reported that Q3 revenues increased 17 percent to $2.57 billion, compared to $2.19 billion over the same period last year and that 326,000 new subscribers joined the satellite broadcast service during the period, a 58 percent increase over Q3 2002.
The El-Segundo-based company reported a quarterly net loss of $23 million, compared to a net loss of $14 million in the same period a year ago. Hughes attributed the increase to accounting charges. For the year, Hughes revenues increased 12 percent to $7.17 billion, compared to $1.766.41 billion in the first nine months of 2002.
As of Sept. 30, DirecTV has 11.85 million U.S. satellite subscribers.
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