DirecTV posts strong Q2, subs down
August 2, 2012
DirecTV has reported an increase in second quarter 2012 revenues of 9 per cent to $7.22 billion, operating profit before depreciation and amortisation (OPBDA) of 9 per cent to $2.01 billion and operating profit of 15 per cent to $1.41 billion compared to last year’s second quarter. The US satellite TV provider reported that second quarter net income increased 1 per cent to $711 million and diluted earnings per share grew 20 per cent to $1.09 compared with the same period last year.
“DirecTV’s strong second quarter consolidated results reflect the unique benefits from our diversified portfolio of businesses which are driving industry leading top-line and bottom-line results,” said Mike White, president and CEO of DirecTV. “DirecTV Latin America’s results demonstrate our competitive advantages in a rapidly growing market by achieving an all-time record of 645,000 net additions and 20 per cent revenue growth in the quarter even with currency headwinds. In addition, DirecTV US. delivered the highest operating profit before depreciation and amortisation growth in two years accelerating to 10 per cent, an early indication of successfully executing on our long term strategy of striking a more optimal balance between growth and profitability. Also by leveraging the achievements of both DirecTV Latin America and DirecTV US with the continuation of our share repurchase programme, earnings per share increased by 20 per cent in the quarter.”
Despite the increase in revenues DirecTV reported a loss of 56,000 US subscribers in the quarter.