DirecTV stock rose more than 2% ($1.85 per share) to $74.79 each in early trading Thursday, as the satellite giant reported fourth quarter results that were largely ahead of analysts’ consensus estimates.
Overall revenue was up 7% to $32 billion in the quarter and operating profit before depreciation and amortization rose 8% to $8.1 billion. In the U.S., results mirrored the overall performance of the company, with revenue up 7% to $6.8 billion and OPBDA rising 8% to $1.5 billion.
“Our fourth quarter results capped off another solid year for DirecTV, 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,” DirecTV chairman and CEO Mike White said in a statement, adding that the results demonstrate “our commitment to profitably grow our businesses while keeping a sharp eye on cost management and productivity improvements.”
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