International boosts Discovery
International growth boosted earnings at Discovery in the third quarter. Net income rose 24 per cent to $255 million, from $205 million, a year ago. Its operating income before depreciation and amortisation was up 11 per cent. Revenues rose 28 per cen to $1.375 billion. The company expects total revenue to finish between $5.55 billion and $5.625 billion and net income to come in at between $1.1 billion and $1.5 billion.
“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 capitalising on the pay television evolution in many of our markets worldwide,” Discovery President and CEO David Zaslav said. “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.”
The recently acquired businesses that impacted Discovery’s earnings include SBS Nordic, Switchover Media and a TV station in Dubai.