UPDATE: DIRECTV Posts Better-Than-Expected Q2 Earnings

DIRECTV

reported better-than-expected second-quarter earnings. The El Segundo, California-based company posted quarterly earnings of $806 million, or $1.59 per share, versus $660 million, or $1.18 per share, in the year-ago quarter. Reported operating profit climbed 5% to $1.42 billion in the quarter. Its revenue climbed 5% to $8.1 billion from $7.7 billion. However, analysts were expecting earnings of $1.54 per share on revenue of $8.01 billion. DIRECTV US revenue climbed 6% to $6.27 billion, while ARPU surged 4.6% to $103.26 in the quarter. Excluding changes in foreign exchange rates, Sky Brasil's revenue climbed 15%, while average number of subscribers increased 7% in the quarter. “Building on our first quarter momentum, DIRECTV delivered yet another excellent quarter of operating and financial results,” said Mike White, President and CEO of DIRECTV. DirectTV shares fell 0.16% to close at $86.25 yesterday.