DIRECTV Posts Lower Q4 Profit, Revenues Up - Quick Facts

(RTTNews) - Satellite television company DirecTV Inc.'s (DTV) fourth-quarter 2013 net income attributable to the company dropped to $810 million, or $1.53 a share, from the prior year's $942 million, or $1.55 a share, as the higher operating profit was more than offset by a $111 million pre-tax gain last year related to the Game Show Network transaction, and a lower effective tax rate in the 2012 fourth quarter related to the resolution of prior year income tax audits. Also impacting the comparison was a $78 million rise in equity earnings from Sky Mexico related mainly to Sky Mexico's recognition of certain one-time tax benefits in 2013, the company said.

On average, 23 analysts polled by Thomson Reuters expected earnings per share of $1.28 for the quarter. Analysts' estimates typically exclude one-time items.

However, DIRECTV's quarterly revenues of $8.59 billion increased 7% from the prior-year figure of $8.05 billion, chiefly due to subscriber growth over the last 12 months at DIRECTV Latin America or DTVLA and DIRECTV U.S., as well as higher ARPU at DIRECTV U.S. OPBDA and operating profit increased 6% to $2.04 billion and 3% to $1.33 billion, respectively, while OPBDA and operating profit margin slid to 23.8% and 15.5%, respectively. Analysts estimated revenues of $8.47 billion for the quarter.