DIRECTV (NASDAQ:DTV) released its earnings numbers for the three months through September this morning before the market opened on Wall Street. The cable company showed earnings per share of $1.28 for the third quarter of 2013. Revenue for the period came in at $7.9 billion. In this morning’s pre-market, shares in the company traded up by more than 3%.
In the run-up to the release of this morning’s earnings report, analysts were expecting the company to earn $1.01 per share. The consensus estimate for revenue, which was tabulated by Bloomberg in a survey of 22 analysts, came to $7.8 billion. In the same three months of 2012 the company earned 90 cents per share on revenue of $7.4 billion.
DIRECTV (NASDAQ:DTV) showed an addition of 139,000 subscribers in the United States during the third quarter of 2013. The addition, which is bigger than was expected from the company, was driven by a much lower churn than the company was anticipating. The subscriber adds were just part of the story in the third quarter.
The biggest impetus for the 6% increase in revenue in the third quarter was a 6.2% increase in Average Revenue Per User. DIRECTV (NASDAQ:DTV) performance in the third quarter was impressive, and the market has clearly had a good reaction to this morning’s news.
Since the year began, shares in DIRECTV (NASDAQ:DTV) have added more than 28% to their value. The company’s stock is still behind a high of more than $65 hit in May, and shares have been reasonably flat for several months since early summer. The last month has seen something of a return to form, with shares up more than 8%, but they have not beaten the $65 cap just yet.
Management at DIRECTV (NASDAQ:DTV) will host a conference call at 2 PM EST in order to discuss this morning’s earnings report. The company’s investors will want to hear the executives’ outlook for the current quarter and their view on the state of the cable market as changes appear inevitable.