logo
Plus   Neg
Share
Email

Discovery Communications Q2 Profit Climbs, Backs FY14 Forecast - Quick Facts

Discovery Communications Inc. (DISCA) reported Thursday that its second-quarter net income available to the company was $379 million or $1.09 per share, 26 percent higher than last year's $300 million or $0.82 per share, primarily due to the strong operating performance.

Adjusted earnings per share, which excluded certain items, was $1.16 per share, compared to $0.91 per share in the same period a year ago.

On average, 24 analysts polled by Thomson Reuters expected earnings of $0.95 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues increased 10 percent to $1.61 billion from $1.47 billion last year. Analysts were looking for revenues of $1.60 billion.

Second-quarter revenues climbed as 23 percent growth at International Networks was partially offset by a 2 percent decline at U.S. Networks, primarily due to additional revenues from licensing agreements in the prior year.

Adjusted operating income before depreciation and amortization or OIBDA increased 6 percent to $694 million.

Looking ahead for fiscal 2014, Discovery expects total revenue between $6.45 billion and $6.525 billion, adjusted OIBDA between $2.6 billion and $2.65 billion, net income available to the company between $1.225 billion and $1.275 billion and adjusted net income between $1.34 billion and $1.4 billion.

The company previously expected full-year net income in a range of $1.2 billion to $1.3 billion, on projected revenues between $6.45 billion and $6.625 billion.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Australia's Westpac Group (WBC.AX, WBK) agreed to pay A$1.3 billion to settle the civil proceedings over money laundering and child exploitation allegations brought by financial crimes regulator AUSTRAC. Amazon's much-awaited Prime Day shopping event will take place in mid-October, according to multiple reports. The annual sale event will reportedly kick off in the U.S. on Tuesday, October 13. Amazon Prime Day, the company's biggest, global shopping event of the year, is usually held in the U.S. in mid-July. However, the e-commerce giant confirmed in July that it is delaying this year's event. Walmart Foundation, Cargill and McDonald's said they will invest more than $6 million in a million-acre grazing initiative to help restore grasslands and address the issue of climate change. The initiative, led by the World Bank, aims to make lasting improvements to the grasslands of the Northern Great Plains. The new program is known as the Ranch Systems and Viability Planning or RSVP network.
RELATED NEWS
Follow RTT