Earnings: DirecTV Q1 Revs Up 17 Percent; Net Income Up 10 Percent; Strong Gains In Latin America
This story was written by Joseph Weisenthal.
A solid quarter from DirecTV (NYSE: DTV), which reported a 17 percent rise in revenue to $4.6 billion from $3.9 billion. Net income was up just over 10 percent to $371 million ($.32 per share) from $336 million ($.27 per share). Both the top and bottom lines modestly exceeded analyst estimates. The company benefited from solid 10 percent top-line growth in the US and 47 percent growth at its budding Latin America unit, although that unit is just 11 percent of the whole. Total subscriber additions increased 47 percent in the quarter to 475,000, while churn of 1.36 percent was the company's lowest in 10 years. Also helpful: an 8.6 percent increase in US ARPU to $79.70.
Release | Webcast (2:00 PM ET)
By Joseph Weisenthal