EARNINGS: DirecTV Profits Rise

Author:
Publish date:

DirecTV's 2006 fourth-quarter revenes were up 16% to $4.18 billion. according to the company, with operating profit more than doubling to $915 million over fourth-quarter 2005.

Net income was also more than double to $356 million compared to the previous fourth quarter, helped by an accounting change in the fourth quarter that counted $408 worth of equipment as a capital expense rather than an operational expense.

Earnings per share jumped from .09% to .29%.

DirecTV attributed the jump to a subscription growth--over a million in the quarter--that was up 6% over 4Q2005. They also cited a reduction in subscriber turnover from 1.7% to 1.57%.

DirecTV parent News Corp. is in the process of dealing its stake in DirecTV to John Malone and Liberty for Liberty's stake in News Corp.

Related