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

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%.