UPDATE: DirecTV Posts Downbeat Q2 Profit

DirecTV Group

reported a 7.2% drop in its second-quarter earnings. DirecTV's quarterly profit fell to $660 million, or $1.18 per share, from $711 million, or $1.09 per share, in the year-earlier period. Its revenue rose 6.6% to $7.7 billion. However, analysts were expecting earnings of $1.33 per share on revenue of $7.75 billion. DirecTV added a net 165,000 subscribers in Latin America, versus an addition of 645,000 subscribers in the year-ago period. DirecTV shares fell 3.60% to $61.00 in pre-market trading.