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DirecTV Misses Q2 Earnings Targets As U.S. Subscriptions Decline

By DAVID LIEBERMAN, Executive Editor | Thursday August 2, 2012 @ 5:20am PDTTags: DirecTV Earnings

It’s believed to be the first time that DirecTV has lost subscribers in the U.S., and the drop — of 52,000 to 19.9M — was bigger than many analysts expected. In Q2 the satellite company generated $716M in net income, +1% vs last year, on revenues of $7.2B, +9.5%. The revenue figure is right about what the Street anticipated. But earnings at $1.09 a share were short of the $1.14 consensus figure. (There’s no mention of the recent battle with Viacom, which took place in Q3.) DirecTV says that the U.S. sub loss reflects its “greater focus on higher quality subscribers and stricter credit policies.” Expectations aside, the numbers weren’t bad: Revenues from the U.S. operation were +7% to $5.6B with an operating profit of $1.2B, +19.7%. And DirecTV’s Latin America operations were surprisingly strong. They gained 645,000 subscribers, for a total of 9.1M. Revenues there at $1.5B were +20.3%, but unfavorable exchange rates especially with Brazil and Argentina resulted in a 7% drop in operating income to $224M. “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,” CEO Mike White says. The company’s share price is down about 4% in pre-market trading.

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DirecTV Q1 Earnings In Line With Forecasts, But Light On Sub Growth

By DAVID LIEBERMAN, Executive Editor | Tuesday May 8, 2012 @ 5:08am PDTTags: DirecTV Earnings

The stock is down slightly in pre-market trading after the No. 1 satellite company issued a Q1 earnings report that seems to justify the cases for both bulls and bears. DirecTV generated net income of $741M, up 8.5% vs the … Read More »

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UPDATE: DirecTV Renews Deal With AT&T, But Laments Rising Programming Costs Following Strong 3Q

By DAVID LIEBERMAN, Executive Editor | Thursday November 3, 2011 @ 11:30am PDTTags: AT&T, AT&T U-Verse, DirecTV, DirecTV Earnings, Dish Network, Dish Network High-Speed Internet Service, NFL Sunday Ticket, Verizon

UPDATE, 11:30 AM: DirecTV shares are up 6.3% after it reported better-than-expected sub growth in 3Q — and a three year extension of its deal with AT&T to sell co-branded TV, broadband, and wired and wireless phone services in 22 states. The agreement, which now runs through March 2015, covers areas where AT&T does not offer its U-verse video service. There’s “no material change” in the terms, DirecTV CEO Mike White told analysts in a conference call. He added that it’s “too soon to say” whether DirecTV will offer more bundles with Verizon broadband services.  ”The question will be how customer friendly the (Internet usage) caps are.”  White says he talks to everybody about packaging broadband service with DirecTV — and that could include Dish Network if it uses the wireless spectrum it’s amassing to sell a wireless Internet service. DirecTV is “thinking Read More »

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UPDATE: DirecTV Shares Fall In Early Trading; Concerns About Slowing U.S. Growth Outweigh Strong 2Q Results

By DAVID LIEBERMAN, Executive Editor | Thursday August 4, 2011 @ 5:28am PDTTags: DirecTV, DirecTV Earnings

UPDATE, 7:15 AM: Investors appear to be more concerned this morning about DirecTV’s potential weakness in the U.S. than they are with its better-than-expected financial performance in 2Q. The stock price is down … Read More »

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