DirecTV Group reports 10 percent increase in first-quarter profit

DirecTV Group reports 10 percent increase in first-quarter profit

DirecTV Group Inc. (NYSE: DTV), an American direct broadcast satellite television company, reported 10 percent increase in first-quarter revenue.

The growth resulted from increased number of subscribers and soared demand for the best entertainment experience and high-definition and digital-video-recorder services.

The company’s profit in the first quarter, 2008, constituted $371 million, or 32 cents a share, compared with the 2007 revenue of $336 million, or 27 cents a share.

Now the company plans to raise $2.5 billion in debt, $1.35 billion through a private offering of notes due 2016 and $1 billion under an existing secured credit facility.

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