Extract
DIRECTV Announces Second Quarter 2010 Results.
DIRECTV Adds 515,000 Net New Subscribers
* Increase driven by all-time record performance of 415,000 net new subscribers at DIRECTV Latin America and 100,000 net additions at DIRECTV U.S. * DIRECTV extends global leadership position by topping 26 million customers in the United States, Latin America and Mexico DIRECTV Grows Revenues 12% to $5.85 Billion and Net Income 33% to $543 Million. * Revenues boosted by strong ARPU growth of 5.7% at DIRECTV U.S. and 3.1% at DIRECTV Latin America * Net Income fueled by operating profit before depreciation and amortization margin improvement of 7.4 percentage points at DIRECTV Latin America and 0.9 percentage points at DIRECTV U.S. DIRECTV Free Cash Flow Increases 40% to $1.41 Billion Year-to-Date DIRECTV Repurchases $1.72 Billion of Company Stock in the Second Quarter; Board Approves an Additional $2.0 Billion Stock Repurchase Program EL SEGUNDO, Calif. -- DIRECTV (NASDAQ:DTV) today reported an increase in second quarter 2010 revenues of 12% to $5.85 billion, operating profit before depreciation and amortization1 (OPBDA) of 18% to $1.64 billion and operating profit of 44% to $1.01 billion compared with last year's second quarter. DIRECTV reported that second quarter net income increased 33% to $543 million and diluted earnings per share, excluding the $0.18 per share impact from the Malone transaction, grew 50% to $0.60 compared with the same period last year."Building on our first quarter momentum, DIRECTV delivered yet another excellent quarter highlighted by solid double-digit revenue growth, significant margin expansion and record-setting subscriber growth in Latin America," said Mike White, president and CEO of DIRECTV. "Our industry leading revenue and earnings growth continues to be driven by the strength of our brand, an unparalleled set of compelling video products and services, and an intense focus on achieving operational excellence through increased productivity and operating efficiencies in both our U.S. and Latin American businesses."White added, "In addition to our solid financial results, the second quarter...See the full content of this document
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