Unlike with Comcast, Wall Street experts weren't surprised by DirecTV's latest Q1 results -- in fact, they were quite disappointed. The satellite provider only managed to add 81,000 subscribers in the US of A during the quarter, which is more than a 50 percent decrease compared to last year's Q1 (184,000). Meanwhile, DirecTV did see a 12 percent increase in revenue, pushing the total to about $7.05 billion. That last bit thanks in large part to landing over 590,000 new customers in Latin America, though that didn't keep its current share price from dropping about 2.7 percent to $46.60. Nonetheless, DirecTV CEO, Mike White, says his company "delivered another strong quarter [..] highlighted by double-digit revenue, EPS and cash flow growth." Us? Well, we're wondering why those "roadside ditch" commercials aren't luring more Stateside folks away from cable...
DIRECTV Announces First Quarter 2012 Results
DIRECTV Increases Net Additions 10% with a First Quarter Record 674,000
DIRECTV Latin America sets all-time records for gross and net additions with 1.0 million and 593,000, respectively in the quarter.
DIRECTV U.S. adds 81,000 new subscribers in the quarter as churn drops 6 basis points to 1.44%.
DIRECTV Revenues Grow 12% to $7.05 Billion
Increase driven by strong subscriber growth coupled with 3.6% higher ARPU at DIRECTV U.S.
Operating Profit before Depreciation and Amortization Increases 8% to $1.90 Billion and Operating Profit Grows 13% to $1.31 Billion
Growth driven by DIRECTV Latin America's 22% increase in operating profit before depreciation and amortization to $468 million and a 14% increase in operating profit to $249 million.
DIRECTV's Diluted Earnings per Share Rise 26% and Stock Repurchases Total $1.3 Billion in the Quarter
EL SEGUNDO, Calif.--(BUSINESS WIRE)--DIRECTV (NASDAQ:DTV) today reported an increase in first quarter 2012 revenues of 12% to $7.05 billion, operating profit before depreciation and amortization1 (OPBDA) of 8% to $1.90 billion and operating profit of 13% to $1.31 billion compared to last year's first quarter. DIRECTV reported that first quarter net income increased 8% to $731 million and diluted earnings per share grew 26% to $1.07 compared with the same period last year.
"Cash paid for subscriber leased equipment – upgrade and retention"
"DIRECTV delivered another strong quarter of financial and operating results highlighted by double-digit revenue, EPS and cash flow growth, fueled in part by another quarter of record-setting subscriber growth in Latin America," said Mike White, president and CEO of DIRECTV. "Our industry leading revenue and earnings growth continues to be driven by the strength of our premier brands, popularity of our differentiated product and service offerings, and an enhanced focus on achieving operational excellence through effective cost