Discovery up

Discovery Communications reported an $8 million increase in first quarter revenues to $817 million, outstripping analysts expectations for the period and posting $119 million in profit. The company reported only $34 million in profit for the first quarter of 2008. Discovery even bucked the advertising slump, posting a two percent increase in ad revenues. As for the full year, Discovery execs said they expect total revenues to reach between $3.4 and $3.5 billion by the end of 2009, with as much as $575 million in net income.

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