DirecTV Clobbers Q3 Earnings Estimates (Bloomberg)
DirecTV combined a growing subscriber base with an increase in subscriber rates to produce sterling Q3 earnings. Net income for America’s biggest satellite-television provider climbed 24 percent to $699 million, or $1.28 per share, up from $565 million, or 90 cents per share for the same quarter of 2012. Analysts had predicted earnings of just a buck a share, so when DirecTV beat estimates by 28 percent, the performance came as quite a surprise. Even more surprising for investors is that shares have slid today on that news, after having gained 28 percent year to date.