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UPDATE: DirecTV Q4 Earnings Top Expectations

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DirecTV (NASDAQ: DTV) reported upbeat earnings for the fourth quarter.

The El Segundo, California-based company posted quarterly earnings of $778 million, or $1.53 per share, versus $810 million, or $1.53 per share, in the year-ago quarter.

Its revenue climbed 4% to $8.92 billion, while ARPU rose to $117.30 from $111.74. However, analysts were expecting earnings of $1.40 per share on revenue of $8.91 billion.

DirecTV's US revenue gained 5.4% to $7.14 billion, while revenue from its Latin American operations dropped to $1.73 billion from $1.77 billion.

During the quarter, the company added 149,000 net subscribers in the US, compared with 93,000 additions, a year ago.

Mike White, President and CEO of DIRECTV said, "Our fourth quarter results, although marked by challenging macroeconomic conditions in Latin America and a conscious decision to reinvest in our U.S. business, capped off another strong year of operations for DIRECTV. In Latin America, despite the macroeconomic headwinds, our DIRECTV and Sky brands attracted over 1.4 million net new customers - surpassing the 19 million cumulative subscriber mark by year-end."

Mike White added, "2015 will bring additional challenges to our businesses, but given our solid continued operating momentum and the pending merger with AT&T, I am confident that we will continue to drive value for our shareholders for the foreseeable future."

DirecTV shares rose 0.50% to $87.75 in pre-market trading.

 

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