DirecTV Beats on Q4 EPS; $3.5 Billion Share Buyback Launched

DirecTV (NASDAQ: DTV  ) is reporting a better-than-expected Q4. In its quarterly and fiscal 2013 results released today, the company said it took in $8.6 billion in revenues for the quarter, up from the $8.0 billion in the same period the previous year. Attributable net income was $810 million ($1.53 per diluted share), a drop from the $942 million ($1.55) of Q4 2012. On average, analysts had been expecting $8.5 billion in revenues and EPS of $1.30 for the quarter.

For the full year, DirecTV's top line was $31.8 billion, against the year-ago figure of $29.7 billion. Net profit slumped to $2.86 billion ($5.17 per diluted share), from 2012's $2.95 billion ($4.58).

The company also announced the start of a share repurchase program for up to $3.5 billion worth of its stock. It said the initiative "reflects our strong balance sheet and confidence in continued strong DIRECTV revenue, earnings and free cash flow growth, as well as our belief that our stock is far below our intrinsic value."


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

DocumentId: 2848017, ~/Articles/ArticleHandler.aspx, 4/21/2014 12:54:02 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement