DirecTV profit rockets 31%

Subscriber gain breaks company records

DirecTV, the nation’s biggest satellite provider, saw net profit surge 31% last quarter and the largest annual net subscriber gain in the company’s history thanks to its Latin America biz, said CEO Mike White.

The satcaster posted profit of $942 million as revenue rose 8% to $8 billion.

“Our solid fourth-quarter consolidated results capped off another year of impressive revenue, earnings and cash flow growth,” White said. He said the company added nearly 3.8 million net new customers, including for Sky Mexico.

The shares popped 2% higher in early trading as the company, which posted full-year 2012 revenue of nearly $30 billion, also approved a new $4 billion stock repurchase plan.

DirecTV U.S. revenue rose 5% last quarter to $6.3 billion. Net subscriber growth dipped by 103,000. Average monthly revenue per subscriber rose to $105.15 from $101.38.

It ended the quarter with just over 20 million subs Stateside.

In Latin America, quarterly revenue increased 22% to $1.67 billion

DirecTV owns about 93% of Sky Brasil, 41% of Sky Mexico and 100% of PanAmericana, which covers most of the remaining countries in the region. Sky Mexico results are accounted for as an equity investment and not consolidated had about 5 million subscribers at year-end, bringing the company’s total in the quarter to just under 15.5 million.

The region logged net additions of 658,000 subs for the quarter.

Filed Under:

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More TV News from Variety

Loading