DirecTV Group 1st-quarter profit fell as it offered promotions to attract and keep customers

DirecTV Group 1Q profit falls 46 percent

EL SEGUNDO, Calif. — DirecTV Group, the nation’s largest satellite TV provider, says its first-quarter profit dropped 46 percent as it offered promotions to attract and retain customers.

The El Segundo, Calif.-based company, which will combine with Liberty Media Corp.’s entertainment unit and spin off into a separately traded company, earned $201 million, or 20 cents per share. That’s down from $371 million, or 32 cents per share, a year ago.

Analysts had been looking for a profit of 33 cents per share.

DirecTV says revenue climbed 7 percent to $4.9 billion as U.S. net subscriber additions surged 67 percent.

DirectTV Group Inc. says it had lower sales of premium and pay-per-view movies and lower advertising revenue in the U.S.