Needham & Company Raises Estimates on Discovery Communications (DISCA)

Needham & Company analyst Laura Martin reiterated a Hold rating on Discovery Communications (NASDAQ: DISCA) but raised revenue and profitability estimates by 12% reflecting the return of sports and a strengthening international ad market.

The analyst stated "we now estimate 2Q21 revenue of $2.99B (up 18% y/y, 1% above our previous estimate), AOIBDA of $1.1B (down 4% y/y, 2% above our previous estimate), and EPS of $0.52 (up 30% y/y, 5% below our previous estimate). We still expect DISCA's merger with WarnerMedia to close in mid-2022."

For an analyst ratings summary and ratings history on Discovery Communications click here. For more ratings news on Discovery Communications click here.

Shares of Discovery Communications closed at $29.10 yesterday.

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