Revenues increased 4% to $7.86 billion, adjusted operating profit before depreciation and amortization increased 7% to $2.22 billion, adjusted operating profit increased 7% to $1.51 billion and adjusted diluted earnings per share improved 14% to $1.63 compared to last year's first quarter.
Adjusted financial results exclude a pre-tax (and after-tax) charge of $281 million in the first quarter of 2014 and a pre-tax charge of $166 million ($136 million after tax) in the first quarter of 2013, resulting from the revaluation of the net monetary assets of the company's subsidiary in Venezuela.
Reported OPBDA increased 1% to $1.94 billion, reported operating profit decreased to $1.23 billion and reported diluted earnings per share declined to $1.09 compared with the same period last year.
TheStreet Ratings team rates DIRECTV as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate DIRECTV (DTV) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, good cash flow from operations and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income."