Discovery Posts Strong Q3 Gains

SILVER SPRING: Overall revenues rose 11 percent to $926 million at Discovery Communications, with net profit surging to $186 million, almost double the year-ago profit of $94 million.

“Discovery continues to enjoy strong operational momentum across our businesses," said David Zaslav, president and CEO. "Our ability to execute, combined with a robust advertising environment, enabled us to deliver third-quarter results that exceeded our expectations. Most importantly, our revenue growth is translating into margin expansion and free-cash flow growth as we remain focused on thoughtfully investing in our business and refining our cost structure. We are committed to building the next generation of growth drivers and are producing real returns from additional investments in Animal Planet, ID and our international networks, while launching our joint ventures, The Hub and OWN. We are excited by the opportunities these investments present to further grow our business long-term and generate increased value for shareholders.”

At the U.S. networks, revenues gained 11 percent to $585 million, with advertising revenues up 16 percent to $304 million and distribution revenues up 9 percent to $264 million. The international networks delivered revenues of $304 million, a 10-percent gain, with ad revenues increasing 23 percent to $98 million, and distribution revenues up 4 percent to $188 million.