Discovery Communications (DISCA) Tops Q2 EPS by 21c
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Discovery Communications (NASDAQ: DISCA) reported Q2 EPS ex-items of $1.16, $0.21 better than the analyst estimate of $0.95. Revenue for the quarter came in at $1.61 billion versus the consensus estimate of $1.6 billion.
Adjusted Operating Income Before Depreciation and Amortization (OIBDA) increased 6% to $694 million, as International Networks were up 19% while U.S. Networks were down 1% due to the impact of licensing agreements. Excluding the impact of the Eurosport transaction, foreign currency fluctuations and licensing agreements, total Company revenues increased 9% and Adjusted OIBDA increased 11%
David Zaslav, Discovery's President and Chief Executive Officer, said, "The operating strength across Discovery's organic businesses, along with increased contributions from strategic acquisitions, led to sustained financial momentum during the second quarter. Our persistent focus on building a broad and deep content portfolio to leverage the opportunities across our unique distribution platform is driving viewership and revenue growth worldwide as pay-tv continues to evolve. Going forward, investing in compelling programing remains a priority as we integrate our recent acquisitions and build new avenues of growth so we can deliver additional long term value to our shareholders."
For earnings history and earnings-related data on Discovery Communications (DISCA) click here.
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