UPDATE 1-DirecTV's fourth-quarter profit, revenue rises
* Forecasts financial hit in '13 on Venezuela's currency devaluation
Authorizes $4 billion share buyback program
* Subscriber additions in Latin America beat estimates
* Shares rise 3 percent in premarket trading
By Liana B. Baker
Feb 14 (Reuters) - Satellite TV provider DirecTV on Thursday said its profit and revenue rose in the fourth quarter, but warned it would take a financial hit in 2013 because of Venezuela's recent currency devaluation.
DirecTV said the Venezuelan government's move to devalue its currency will make the company incur a one-time pre-tax charge of $160 million.
The devaluation will have "an ongoing unfavorable financial impact to DirecTV's Latin America's revenues, earnings and cash flow growth related to the translation of the local currency financial statements to the new official exchange rate," DirecTV said.
In the United States, it added 103,000 net subscribers. In Latin America, the greatest driver of its business, it added 658,000 net subscribers. Analysts were expecting net additions in Latin America of 601,000, according to StreetAccount.
U.S. churn, or the rate of subscriber cancellations, improved to 1.43 percent, down from 1.52 percent a year ago.
Net income attributable to DirecTV rose to $942 million, or $1.55 per share, compared with $718 million, or $1.02 per share a year ago.
Revenue rose 8 percent to $8.05 billion. Analysts were expecting $8.03 billion, according to Thomson Reuters I/B/E/S.
The company also authorized a new $4 billion stock repurchase program.
In December, DirecTV Group said its service fees will rise an average 4.5 percent in February due to increasing programming costs.
DirecTV shares rose 3 percent in premarket trading on Thursday.