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Thread: D* Q1 2012 Earnings
05-08-2012 07:50 AM #1Go Wings!
D* Q1 2012 Earnings
EL SEGUNDO, Calif., May 08, 2012 (BUSINESS WIRE) -- --DIRECTV Latin America sets all-time records for gross and net additions with 1.0 million and 593,000, respectively in the quarter.
--DIRECTV U.S. adds 81,000 new subscribers in the quarter as churn drops 6 basis points to 1.44%.
--DIRECTV Revenues Grow 12% to $7.05 Billion
--Increase driven by strong subscriber growth coupled with 3.6% higher ARPU at DIRECTV U.S.
--Operating Profit before Depreciation and Amortization Increases 8% to $1.90 Billion and Operating Profit Grows 13% to $1.31 Billion
--Growth driven by DIRECTV Latin America's 22% increase in operating profit before depreciation and amortization to $468 million and a 14% increase in operating profit to $249 million.
--DIRECTV's Diluted Earnings per Share Rise 26% and Stock Repurchases Total $1.3 Billion in the Quarter
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"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," said Mike White, president and CEO of DIRECTV. "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."
DIRECTV'S OPERATIONAL REVIEW
First Quarter Review
DIRECTV's first quarter revenues of $7.05 billion increased 12% over the same period last year principally due to strong subscriber growth at DIRECTV Latin America (DTVLA) and DIRECTV U.S., as well as higher ARPU at DIRECTV U.S. Operating profit before depreciation and amortization (OPBDA) increased 8% to $1.90 billion and operating profit increased 13% to $1.31 billion. Also in the quarter, OPBDA margin declined primarily due to higher programming and general and administrative (G&A) costs at DIRECTV U.S., increased subscriber acquisition and customer service costs at DTVLA, as well as higher upgrade and retention spending at both DIRECTV U.S. and DTVLA. These increases were partially offset by lower subscriber acquisition costs at DIRECTV U.S. In addition, operating profit margin increased as the lower OPBDA margin was more than offset by lower depreciation expense at DIRECTV U.S.
DIRECTV Announces First Quarter 2012 Results - MarketWatch
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