Satellite television company DirecTV Inc.'s (DTV) first-quarter 2013 net income attributable to the company slid to $690 million, from $731 million, while earnings per share improved to $1.20, from last year's $1.07. On an adjusted basis, earnings for the period amounted to $1.43. On average, 18 analysts polled by Thomson Reuters expected earnings per share of $1.08 for the quarter. Analysts' estimates typically exclude one-time items.
Adjusted financial results exclude a $166 million pre-tax charge associated with the revaluation of the net monetary assets of the company's unit in Venezuela at the time of the Bolivar's devaluation in February, DIRECTV added. Adjusted earnings per share were also impacted by share repurchases made over the last year.
DIRECTV's quarterly revenues of $7.58 billion increased 8% from the prior-year figure of $7.05 billion, chiefly due to subscriber growth at DIRECTV Latin America and DIRECTV U.S., as well as higher ARPU at DIRECTV U.S. Analysts estimated revenues of $7.53 billion for the quarter.
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