Discovery earnings up
November 3, 2010
Discovery Communications’ earnings jumped in the third quarter, riding a robust advertising market. Net income increased 98 per cent to $186 million, from $94 million a year ago. Net income from continuing operations was up 73 per cent to $161 million. Revenues rose 11 per cent to $926 million in the quarter.
“Our ability to execute, combined with a robust advertising environment, enabled us to deliver third quarter results that exceeded our expectations,” said David Zaslav, president and CEO of Discovery, in a statement. “We are committed to building the next generation of growth drivers and are producing real returns from additional investments in Animal Planet, ID and our international networks, while launching our joint ventures, The Hub and OWN. We are excited by the opportunities these investments present to further grow our business long-term and generate increased value for shareholders.”