Discovery Communications Posts Improved Q1 Earnings, Revenue Thanks To U.S. Business

By Trey Williams Markets MarketWatch Pulse

Discovery Communications Inc. on Thursday said net income for the first quarter rose to $263 million, or 42 cents per share, compared with $250 million, or 37 cents during the same period a year ago. Adjusted earnings per share were 46 cents, above the FactSet consensus of 42 cents per share. Revenue during the quarter hit $1.56 billion, which was a slight increase compared with the $1.54 billion last year and right in line with the $1.56 billion FactSet revenue consensus. Discovery's revenue was helped by an 8% bump at its U.S. networks business. The company said revenue at its international networks took a hit, due largely to foreign currency impact. Shares of Discovery were inactive in premarket trade, but have slumped 0.3% in the year so far, while the S&P 500 Index is up 0.4%.

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