TV

Discovery Communications posts revenue and net profit increases for Q1

Discovery Communications has posted its first quarter results for 2010, boasting a revenue increase of 8% buoyed by significant boosts in international networks revenues, as well as a net profit increase of 42% for the quarter.
April 30, 2010

Discovery Communications has posted its first quarter results for 2010, boasting a revenue increase of 8% buoyed by significant boosts in international networks revenues, as well as a net profit increase of 42% for the quarter. U.S. Networks’ Q1 revenues were up by 5% to US$546 million, with advertising revenue increasing by 9%. For International Networks, excluding the $13 million impact of foreign currency fluctuations, revenues increased 10%, led by a massive 35% advertising revenue growth, primarily from higher cash sellouts, increased viewership and subscriber growth across all international regions. The results exceeded Wall Street expectations, resulting in Discovery shares hitting an all-time high following the announcement. ‘Discovery’s first quarter performance was the result of strong operational execution and an improving economic environment,’ said Discovery Communications president and CEO David Zaslav. ‘The ratings strength exhibited across our diverse portfolio throughout last year was sustained in the first quarter and, with an improved global advertising environment, we were able to further monetize our increased viewership. We remain committed to executing on our operating plan and delivering on our financial commitments while investing in our brands around the globe and strengthening the content across our distribution platforms.’

About The Author
Meagan Kashty is an associate editor of realscreen, an international print and online magazine that covers the non-fiction film and television industries. Meagan is an award-winning business journalist. Prior to joining the realscreen team, Meagan was online editor of Canadian Grocer, named Magazine of the Year at the 2015 Canadian Business Media Awards. She can be reached at mkashty@brunico.com, and you can follow her on Twitter @MegKashty

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