Partially driven by rabid World Cup TV consumption in its overseas point of strength, Latin America, DirecTV (NASDAQ: DTV) reported second-quarter earnings growth of 22 percent to $806 million, with revenue increasing 5 percent year-over-year to $8.1 billion and beating analysts' consensus forecast.
The El Segundo, Calif.-based satellite operator will conduct its Q2 2014 conference call with investors at 2 p.m. EST (11 a.m. PST) on July 31.
For the quarter, DirecTV saw subscriber losses narrow to 34,000 compared to 84,000 disconnections in Q2 2013, with domestic revenue increasing 5.5 percent to $6.27 billion.
But the real growth occurred in Latin America, where the company added 543,000 subscribers in the quarter, more than three times the 165,000 added in the same period last year. Closing Q2 with 12.5 million customers in the region, DirecTV saw its Latin American revenue rise 6.1 percent to $1.79 billion.
"DirecTV Latin America's second quarter results highlight the tremendous success of our unparalleled FIFA World Cup coverage, while DirecTV U.S. continues to successfully execute on our overarching goal to balance top line sales with bottom line profitability" said DirecTV president and CEO Mike White. "Overall, DirecTV continues to deliver on our strategic imperatives as we prepare for the exciting opportunities that our merger with AT&T will bring to our customers, employees and key stakeholders."
For more:
- read this DirecTV earnings release
- read this Wall Street Journal story
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