DirecTV 2nd Quarter Financial Results

[ScoBuck]

Here are the headlines:

DIRECTV Group Operating Profit Before Depreciation and
Amortization (OPBDA) Increases 20% to $1.4 Billion

-- DIRECTV U.S. Net Additions of 129,000 Driven by Lowest Second
Quarter Monthly Churn Rate in Four Years of 1.49%;

Complete Press Release:
The DIRECTV Group, Inc. - The DIRECTV Group Announces Second Quarter 2008 Results

 

[DodgerKing]

You beat me by a couple minutes. I was just going to post this myself.

 

[DodgerKing]

               THE DIRECTV GROUP'S OPERATIONAL REVIEW

The DIRECTV Group                       Three Months     Six Months
Dollars in Millions except Earnings    Ended June 30,  Ended June 30,
 per Common Share                      --------------- ---------------
                                         2008    2007    2008    2007
----------------------------------------------------------------------
Revenues                               $ 4,807 $ 4,135 $ 9,398 $ 8,043
----------------------------------------------------------------------
Operating Profit Before Depreciation
 and Amortization(1)                     1,358   1,133   2,539   2,063
----------------------------------------------------------------------
Operating Profit                           801     740   1,458   1,303
----------------------------------------------------------------------
Net Income                                 455     448     826     784
----------------------------------------------------------------------
Basic and Diluted Earnings Per Common
 Share ($)                                0.40    0.37    0.72    0.64
----------------------------------------------------------------------
Capital Expenditures and Cash Flow
----------------------------------------------------------------------
Cash Paid for DIRECTV U.S. Subscriber
 Leased Equipment - Acquisitions,
 Upgrade and Retention                     209     335     526     741
----------------------------------------------------------------------
Cash Paid for Property, Equipment and
 Satellites                                261     321     510     605
----------------------------------------------------------------------
Cash Flow Before Interest and Taxes(2)     718     305   1,335     653
----------------------------------------------------------------------
Free Cash Flow(3)                          373     201     917     510
----------------------------------------------------------------------

 

[tigerfan33]

Sorry Charlie. Your statements the other day about the bad Q at Dish does not hold any water. Direct is in the same "bad economy".

 

[DodgerKing]

                                         [FONT=verdana]
[/FONT]                                    Three Months       Six Months
DIRECTV U.S.                        Ended June 30,    Ended June 30,
                                   ----------------- -----------------
Dollars in Millions except ARPU      2008     2007     2008     2007
----------------------------------------------------------------------
Revenue                            $ 4,196  $ 3,726  $ 8,245  $ 7,265
----------------------------------------------------------------------
Average Monthly Revenue per
 Subscriber (ARPU) ($)               81.80    76.43    80.79    74.96
----------------------------------------------------------------------
Operating Profit Before
 Depreciation and Amortization(1)    1,218    1,062    2,275    1,931
----------------------------------------------------------------------
Operating Profit                       717      722    1,310    1,288
----------------------------------------------------------------------
Cash Flow Before Interest and
 Taxes(2)                              618      308    1,221      651
----------------------------------------------------------------------
Free Cash Flow(3)                      224      (47)     729      215
----------------------------------------------------------------------
Subscriber Data (in 000's except
 Churn)
----------------------------------------------------------------------
Gross Subscriber Additions             894      900    1,858    1,829
----------------------------------------------------------------------
Average Monthly Subscriber Churn      1.49%    1.58%    1.42%    1.51%
----------------------------------------------------------------------
Net Subscriber Additions               129      128      404      363
----------------------------------------------------------------------
Cumulative Subscribers              17,164   16,316   17,164   16,316
----------------------------------------------------------------------[FONT=verdana]
[/FONT]

 

[riffjim4069]

Impressive results from the D* side of the isle...

 

[jcrandall]

Wow, Dish lost 25k, Direct gained 129k. Just wow.

 

[rad]

Charlies got to be hitting his head against the wall wondering why others are posting subscriber gains and he isn't. I mean he says they're the HD leader (always have been), they have the best prices and the best hardware and still customers are going somewhere else.

 

[hancox]

Wow, Dish lost 25k, Direct gained 129k. Just wow.

Indeed.

 

[vurbano]

Wow seriously kicking Ergens butt.

 

[goaliebob99]

Yep Charlie needs some fresh eyes to help make the ship float again. They need to cut out the negotiation bull crap, bring some VOD that makes since to Dish, and add the hd channels that everyone likes. They then could start re adding the sporting packages and that should get them afloat and back on the right track. I don't think Charlie would do it, I think he's too embarrassed to do it.

 

[grydlok]

Charlies got to be hitting his head against the wall wondering why others are posting subscriber gains and he isn't. I mean he says they're the HD leader (always have been), they have the best prices and the best hardware and still customers are going somewhere else.

Charter took a loss also.

 

[rad]

Charter took a loss also.

That's why I said others and not all others. So Dish and Charter, probably one of the worst cable companies out there, have something in common.

 

[tigerfan33]

That's why I said others and not all others. So Dish and Charter, probably one of the worst cable companies out there, have something in common.

Not one of the worst, the worst. Terrible company to do business with and I washed my hands of Charter several years ago.

 

[charper1]

Charlies got to be hitting his head against the wall wondering why others are posting subscriber gains and he isn't. I mean he says they're the HD leader (always have been), they have the best prices and the best hardware and still customers are going somewhere else.

Yep, regardless of what any of US say or read here; THIS is the REAL truth. The bottom line!