Discovery Q3 net income leaps by 24%

US non-fiction company Discovery’s revenue for the fiscal third quarter ended 30 September increased by 28 per cent to $1.3 billion. Net income increased by 24 per cent to $255 million. Free cash flow also increased by 24 per cent to $438 million. 

Discovery president, CEO David Zaslav said, “Discovery’s strong third quarter results once again demonstrate the breadth and depth of our brands and the myriad of opportunities across our global distribution platform. We are translating the consistent viewership gains we are delivering globally into strong advertising growth both domestically and internationally, while at the same time further leveraging our unique distribution footprint by capitalizing on the pay television evolution in many of our markets worldwide. 

“As we invest in the organic growth opportunities across our diverse portfolio, we are also focused on the integration of our recent acquisitions. Building additional long-term growth prospects remains a priority as we deliver sustained financial results and return additional capital to shareholders to further build shareholder value.” 

Revenues were led by a big 59 per cent growth at International Networks and a modest 10 per cent growth at US Networks. Adjusted Operating Income Before Depreciation and Amortization (OIBDA) increased by 20 per cent to $597 million, as International Networks were up by 34 and US Networks were up by 10 per cent. Excluding the impact of licensing agreements, newly acquired businesses and foreign b currency fluctuations, total company revenues increased by 12 per cent and Adjusted OIBDA increased by 11 per cent.

Source: http://cablequest.org/news/international-news/item/3450-discovery-q3-net-income-leaps-by-24.htmlSource: http://cablequest.org/news/international-news/item/3450-discovery-q3-net-income-leaps-by-24.html