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DirecTV Reports Positive Quarter

5/08/2012 11:38:53 AM Eastern
El Segundo, Calif. - Direct-to-home satellite TV giant DirecTV reported first quarter revenue of $7.05 billion, up 12 percent from a year ago as operating income before depreciation and amortization rose 8 percent to $1.9 billion.

"DirecTV delivered another strong quarter of financial and operating results highlighted by double-digit revenue, EPS and cash flow growth, fueled in part by another quarter of record-setting subscriber growth in Latin America," DirecTV CEO Mike White said in a statement on the firm's Q1 results. "Our industry leading revenue and earnings growth continues to be driven by the strength of our premier brands, popularity of our differentiated product and service offerings, and an enhanced focus on achieving operational excellence through effective cost management."

For the United States, DirecTV's revenue rose 7 percent, as net subscribers increased 81,000.

Total U.S. subscribers now stand at 19.97 million, up slightly from 19.4 million a year earlier. Operating profit from the U.S. business rose to $1.31 billion in the period.

Churn in the U.S. dropped to 1.44 percent from 1.5 percent a year ago, and average revenue per unit (ARPU) rose 3.6 percent to $91.99 a month.

In Latin America, DirecTV reported a 36 percent rise in revenue, as net subs jumped 593,000 to 8.46 million.

The satellite TV company has targeted doubling its Latin America subscribers to more than 16 million and annual revenue to more than $10 billion over the next five years.
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