DIRECTV Reports Higher Profit, But Misses Estimate (DTV, AKRX, CHTR, DISCA)
DIRECTV (NASDAQ:DTV) shares fell 2% to $46.94 after the company reported first quarter net income of $731 million or $1.07 per share, from $674 million or $0.85 per share in the same quarter last year. Revenues for the quarter rose to $7.05 billion from $6.32 billion in the year ago period. Analysts expected the company to report earnings of $1.06 per share on revenue estimate of $7.06 billion for the quarter.
Akorn, Inc. (NASDAQ:AKRX) reported first quarter consolidated revenue of $51.7 million, as compared to $25.4 million in the same quarter last year. Net income was $8.5 million or $0.08 per diluted share, as compared to $5.8 million, or $0.06 per diluted share in the comparable prior year quarter.
Looking forward, the company continues to expect fiscal 2012 total revenues of $228-238 million, GAAP net income of $36-39 million, GAAP net income per diluted share of $0.33-0.36, Adjusted net income of $48-51 million, Adjusted net income per diluted share (EPS) of $0.44-0.46 and Adjusted EBITDA of $88-93 million.
Shares of AKRX are down over 5%.
Charter Communications, Inc. (NASDAQ:CHTR) added 1.60% after the company posted first quarter net loss of $94 million or $0.95 per share, from $110 million or $0.97 per share in the same quarter a year ago. Pro forma loss in the prior-year quarter was $111 million. Total Revenues were up to $1.83 billion from $1.77 billion in the year ago period. Analysts expected the company to report loss of $.57 per share on revenues of $1.84 billion.
Discovery Communications Inc. (NASDAQ:DISCA) stock declined 5.40% to $51.16 in the opening session after the company’s first quarter revenue advanced 16% to $1.1 billion, while analysts estimated $1.06 billion on average. Net income dropped to $221 million or $0.57 a share, from $305 million, or $0.74 a share, a year earlier. Analysts predicted $0.60 a share.
Looking forward, the company expects fiscal 2012 total revenue between $4.550 billion and $4.650 billion, adjusted OIBDA between $2.125 billion and $2.200 billion, and net income of $1.000 billion to $1.100 billion.
The Company also announced that the Board of Directors has approved a $1.0 billion increase to the existing stock repurchase program, to $3.0 billion.