DirecTV slightly topped revenue estimates for 2014’s third quarter, despite losing U.S. customers during the three-month period.
The company reported EPS of $1.21 — which adjusts up to $1.33 per share — on a rounded $8.4 billion in revenue. Wall Street analysts had forecasted earnings per share of $1.30 on revenue of $8.3 billion.
That reported revenue represents growth of six percent from last year’s Q3, when the company brought in $7.9 billion. Reported EPS for the same period last year was $1.28.
For this year’s Q3, the revenue grew thanks to increased average revenue per user — thanks to price hikes, ad sales, fees, a rise in commercial business — in the United States, despite a loss in customers. In the Latin America market, subscriber increases also boosted revenue.
But here in the States, subscriber net losses were approximately 28,000, which compares to a net addition of 139,000 in the prior year period. DirecTV U.S. ended the quarter with 20.2 million subscribers.
“Our third quarter financial results continue to demonstrate the strong execution of our operations,” said
White added, “In Latin America, due to challenging macroeconomic and foreign exchange headwinds, we continue to focus on local currency performance which has allowed us to profitably grow our businesses, as well as begin generating positive cash flow in the region – one of our primary goals for the year.”
DirecTV will hold a conference call at 2 p.m. ET, at which point this post will be updated with any additional pertinent information.