DIRECTV Fourth Quarter Revenue Growth of 7% Drives Full Year Revenues to US $31.75 billion
El Segundo, Calif., February 20, 2014--DIRECTV today reported that fourth quarter 2013 revenues increased 7% to US$ 8.59 billion, operating profit before depreciation and amortization (OPBDA) increased 6% to US$ 2.04 billion and operating profit increased 3% to US$1.33 billion compared to last year's fourth quarter. DIRECTV reported that fourth quarter net income declined to and diluted earnings per share decreased to $1.53 compared with the same period last year.
“Our fourth quarter results capped off another solid year, as we finished the year with nearly 38 million customers across the Americas, maintaining our standing as the world’s largest and most popular video service,” said Mike White, President and CEO of DIRECTV. “Full year consolidated revenue grew 7% to nearly US$ 32 billion, with adjusted operating profit before depreciation and amortization increasing 8% to US$ 8.1 billion. In addition, we generated US$ 2.6 billion in free cash flow, a 14% increase over 2012, demonstrating our commitment to profitably grow our businesses while keeping a sharp eye on cost management and productivity improvements,” he added.
White continued, “We exit 2013 with good momentum and look to build on that in 2014 with a strong, comprehensive strategy dedicated to building lifelong customer relationships, while driving revenue and profit growth over the long term. In the U.S., we are well positioned to continue strengthening DIRECTV’s competitiveness in the marketplace as the premier provider of video services by advancing our customer franchise, while delivering mid-single digit top and bottom line growth in 2014.”
White added, “In Latin America, our long term outlook remains strong, as the DIRECTV and SKY brands are poised to deliver the absolute best television experience through leadership in content, technology and customer service. However, as we articulated at our December 2013 Investor Day, our 2014 financial results will be pressured by macroeconomic conditions, foreign currency headwinds, higher programming expenses and production costs related to unparalleled coverage of the FIFA World Cup and difficult comparisons related to one-time benefits in 2013.”
DIRECTV said it had 20.25 million subscribers in the United States at the end of 2013, up about 0.8 percent from 2012. In Latin America, its customer base grew 12 percent to 11.57 million.
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