DIRECTV Q1 Net Profit Falls, Revenues Up 4% - Quick Facts

(RTTNews) - Satellite television company DirecTV Inc.'s (DTV) first-quarter 2014 net income attributable to the company dropped to $561 million, or $1.09 per share, from $690 million, or $1.20 per share, in the earlier year quarter.

Excluding the Venezuelan currency devaluation charge, adjusted net income attributable to the company came in at $842 million, or $1.63 per share for the latest quarter. On average, 22 analysts polled by Thomson Reuters expected earnings per share of $1.50 for the quarter. Analysts' estimates typically exclude one-time items.

The company said its adjusted results exclude a pre-tax (and after-tax) charge of $281 million in the recent quarter and a pre-tax charge of $166 million in the first quarter of 2013, resulting from the revaluation of the net monetary assets of the company's division in Venezuela.

Primarily due to the strong ARPU growth at DIRECTV U.S., quarterly revenues of $7.86 billion increased 4% from the prior-year figure of $7.58 billion, whereas 20 analysts estimated revenues of $7.91 billion for the quarter.