Discovery Q2: “Solid financial results”
August 7, 2018
Discovery delivered solid financial results in its first full quarter as a combined company and continued to make great progress with its integration of Scripps Networks Interactive and its pivot to digital, mobile and direct to consumer products and services, according to David Zaslav, President and Chief Executive Officer for Discovery as the programmer reported its financial results for the second quarter ended June 30th, 2018. “As the global leader in real life entertainment, we are uniquely positioned in the media marketplace to deliver long-term value for our passionate superfans, shareholders and business partners around the world,” he added.
Second quarter revenues of $2.845 billion (€2.45bn) increased 63 per cent on a reported basis compared with the prior year quarter. On a pro forma combined basis, excluding the impact of foreign currency fluctuations, total company second quarter revenues increased 1 per cent, as International Networks revenues increased 5 per cent and US Networks revenues increased 1 per cent, partially offset by a 69 per cent decrease in Education and Other revenues.