Discovery Posts Higher 1Q Revenue, Profit

Media & AdvertisingReuters

Discovery Communications Inc posted higher revenue and profit in the first quarter as its cable television networks grabbed better U.S. and international ratings.

The media company said on Tuesday that revenue rose 6.5 percent to $1.156 billion. Analysts expected $1.51 billion, according to Thomson Reuters I/B/E/S. Net income rose to $231 million, or 63 cents per share, from $221 million or 57 cents per share a year ago.

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(Reporting by Liana B. Baker; Editing by Jeffrey Benkoe)