Discovery Q2 down 8%

Discovery’s Q2 net income dropped 8 per cent to $374 million. The company attributed the downturn to currency fluctuations and losses from investments – including in solar. Revenues for Discovery rose 2 per cent to $1.745 billion.

At Discovery’s US networks, operating income rose 4 per cent to $567 million. Revenues rose 2 per cent to $890 million. Distribution revenues were up 4 per cent, while ad revenues were $472 million, flat versus $471 million a year ago.

Scripps Networks Interactive’s preliminary results for the second quarter shows income from operations before income taxes was $400.8 million, up 20.8 per cent Revenues were up 3.6 per cent to $925 million. At Scripps US networks, income was flat at $390 million.

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