Discovery, the US media giant, has reported financial results for the full year and fourth quarter ended December 31st 2018.
Full year revenues increased 54 per cent to $10.6 billion (€9.3bn) on a reported basis compared with the prior year. Excluding the impact of foreign currency fluctuations and the Scripps Networks Interactive, MotorTrend Group and Oprah Winfrey Network (OWN) transactions, revenues increased 3 per cent, as an 8 per cent increase in International Networks and a 1 per cent increase in US Networks were partially offset by a significant decrease in Education and Other revenues due to the sale of the education business on April 30th 2018.
Fourth quarter revenues of $2.8 billion increased 51 per cent on a reported basis compared with the prior year quarter.
“2018 was a transformational year for Discovery, highlighted by our operational accomplishments, our strong progress in synergy generation and our overall solid financial performance, as we continued powering people’s passions around the world,” said David Zaslav, President and Chief Executive Officer for Discovery. “Discovery is a differentiated global content company, and we are optimistic that we will continue to build on all of our operating momentum to drive additional shareholder value into the future.”