Domestic Advertising and Distribution Gains Drive Discovery Q1 Earnings

  • Variety
Discovery Inc. delivered advertising and affiliate revenue growth in the U.S. in the first quarter even as international revenue fell against tough year-over-year comparisons.

Discovery on Thursday reported total revenue of $2.7 billion, in line with Wall Street’s expectations and up 17% from the year-ago quarter. However, adjusted for the impact of Discovery’s Scripps Networks Interactive acquisition last year, Discovery revenue was down 5% for the quarter. Net income reached $384 million, compared to a loss of $8 million in the year-ago quarter.

Adjusted operating income was up 21% on a pro forma basis to $1.2 billion.

Discovery’s solid showing on the domestic front was offset by declines in its international division, which faced tough year-over-year comparisons after Discovery’s Eurosport unit carried the winter Olympics in Q1 2018.

U.S. networks saw advertising and distribution gains of 4% on a pro forma basis, with ad revenue reaching $1 billion and distribution hitting $697 million for the quarter.
See full article at Variety »

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