DIRECTV (NASDAQ:DTV) reported its first-quarter earnings before opening bell this morning, soaring past analyst consensus estimates. As a result, the company’s stock jumped as much as 3.54 percent in pre-market trading.
The company’s revenues grew 8 percent to $7.6 billion. Its adjusted diluted earnings per share jumped 34 percent to $1.43 per share, while the company’s reported diluted earnings rose 12 percent to $1.20 per share. Analysts were expecting the company to report earnings of $1.06 per share on $7.63 billion.
Subscriber Growth At DIRECTV
The satellite television service provider attributed its increase in revenues for the quarter to subscriber growth in its Latin America and U.S. markets and also higher average revenue per user. Overall, the company added 604,000 net subscribers during the first quarter.
DIRECTV (NASDAQ:DTV) reported a 5 percent increase in U.S. revenues. It added 21,000 net new subscribers in the U.S. during the first quarter, which was a decline from the same quarter a year ago. The company ended the quarter with 20.11 million U.S. subscribers, compared to 19.97 million subscribers at the end of the same quarter a year ago.
In Latin America, DIRECTV (NASDAQ:DTV) owns 93 percent of Sky Brasil, 41 percent of Sky Mexico and 100 percent of PanAmericana. The company reported total subscribers in Latin America at the end of the quarter to be 16.32 million. DIRECTV reported the addition of 583,000 subscribers in the region during the quarter, compared to expectations of 519,000 subscribers.
DirecTV Latin America revenues rose 16 percent to $1.73 billion due to strong subscriber growth, although that was partially offset by a 10.5 percent decrease in average revenue per user. The company attributed the decline to the negative impact of devaluation in Venezuela and negative impacts from foreign exchanges in Brazil.