DIRECTV Q2 Profit Down, But EPS Rises - Quick Facts

(RTTNews) - DIRECTV (DTV) reported that its second-quarter net income attributable to the company declined to $660 million from the prior year's $711 million mainly due to the lower operating profit. Also impacting the comparison was a $59 million non-cash pre-tax charge in 2013 due to the deconsolidation of DIRECTV Sports Network or DSN Northwest resulting from the renegotiation with the Seattle Mariners regarding DIRECTV's ownership in the venture, as well as a $64 million charge in 2012 for the loss on the early retirement of debt.

But, earnings per share for the quarter grew 8% to $1.18 from the prior year's $1.09 as the lower net income was offset by share repurchases made over the last twelve months. Analysts polled by Thomson Reuters expected the company to report earnings of $1.33 per share for the quarter. Analysts' estimates typically exclude special items.

Quarterly revenues rose about 7% to $7.70 billion from last year's $7.22 billion, principally 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 twelve months. These increases were partially offset by lower ARPU at DTVLA primarily due to unfavorable exchange rates. Twenty one analysts had consensus revenue estimate of $7.75 billion for the quarter.