DIRECTV Posts Higher Q3 Profit - Quick Facts

(RTTNews) - Satellite television company DirecTV Inc.'s (DTV) third-quarter reported net income attributable to the company climbed to $699 million, or $1.28 per share, from last year's $565 million, or $0.90 per share. On average, 26 analysts polled by Thomson Reuters expected earnings per share of $1.02 for the quarter. Analysts' estimates typically exclude one-time items.

The company said the 24% net profit growth reflected higher operating profit but also due to lower interest expense as the impact from the ECAD settlement more than offset increased interest expense related to higher average debt balances. These gains were partially offset by higher tax expense associated with the higher pre-tax income. Three-month earnings per share grew 42% year-on-year, due mainly to the higher net income and share repurchases made over the last twelve months

Quarterly revenues totaled $7.88 billion, up 6%, compared with the prior-year figure of $7.42 billion, largely due to higher ARPU at DIRECTV U.S. as well as subscriber growth at DIRECTV Latin America or DTVLA and DIRECTV U.S. over the last year. These increases were partially offset by lower ARPU at DTVLA primarily due to unfavorable changes in exchange rates. Analysts estimated revenues of $7.85 billion for the quarter.

Commenting on the results, the company's President and Chief Executive said, "DIRECTV's diversified portfolio of businesses across the Americas delivered another solid quarter of consolidated results highlighted by strong top-line growth and continued operational discipline across disparate geographies, macro-economic conditions and competitive environments."