Losses Narrow at Hughes Electronics

17 July 2002

Hughes Electronics, the General Motors unit that houses leading US satellite-television operator DirecTV, reduced losses for its second quarter after sales rose 11%.

The firm’s Q2 shortfall totalled $155.1 million (€153.4m; £98.6m), down from $156.5m in the same quarter last year, while revenues jumped from $1.99 billion to $2.21bn.

Around 202,000 new subscribers signed up to DirecTV in the period, below the target of 225,000 to 250,000, though Hughes still expects to hit the full-year forecast of 1.2m.

Data sourced from: New York Times; additional content by WARC staff