DirecTV Beats By 23 Cents per Share

This morning, DirecTV ($DTV) reported earnings of $1.53 per share which was 23 cents better than expectations. This was a very strong quarter.

Latin America continues to be a growth powerhouse. Revenues were up 10% in that region and they added 1.2 million net subscribers. This is especially good since the macro picture is, shall we say, cloudy in some part of Latam.

DirecTV also announced a buyback program of $3.5 billion. I’ve long been a critic of shareholder repurchases, but DTV is one of the few that do it right. They actually reduce their overall share count. Working out the math, $3.5 billion is roughly 9% of DTV’s market cap.

The shares gapped up to a new all-time high this morning.

Posted by on February 20th, 2014 at 9:52 am


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