DIRECTV Delivers Improved Q1 Results

EL SEGUNDO: With strong subscriber gains at its U.S. and Latin American platforms, DIRECTV’s first-quarter revenues rose 13 percent to $6.32 billion, with net profit rising 21 percent to $674 million.

"Building on the momentum of one of our best years ever, DIRECTV delivered another strong quarter of operating and financial results," said Mike White, the president and CEO of DIRECTV. "Record-setting subscriber growth in Latin America and robust customer gains in the U.S. culminated in a nearly two-fold increase in consolidated net additions to 611,000. These industry leading subscriber gains combined with DIRECTV Latin America’s 11.7 percent ARPU growth and margin expansion of 320 basis points, drove double-digit growth in consolidated revenues and operating profit before depreciation and amortization to 13 percent and 12 percent, respectively. In addition, the strength and stability of our cash flow continues to create significant value for our shareholders, as the continuation of our share repurchase program along with net income growth of 21 percent lifted diluted earnings per share by 44 percent to $0.85 in the quarter."

U.S. revenues were up by 8 percent to $5.15 billion, with ARPU up by 3.9 percent to $88.79 thanks to price increases on programming packages and leased boxes and higher advanced service fees. The platform had 19.41 million subs at the end of the year, a 4-percent gain. Operating profit rose 14 percent to $921 million.

DIRECTV Latin America experience record gross sub additions of 765,000, led by gains in Brazil. Net additions stood at 427,000. Revenues gained 43 percent to $1.11 billion, delivering an operating profit of $219 million, a 74-percent hike.