Discovery Communications has posted strong full year results for 2011, with revenues up 12% to US$4.24 billion and net income up 75% to $1.13 billion.
The 12% revenue increase represents a rise of $462 million on 2010 revenues, primarily driven by 11% growth at U.S. networks and 16% growth at International networks. Meanwhile, adjusted pre-tax operating income grew 13% to $1.91 billion, driven by a 10% increase at U.S. networks and an 18% increase at International networks. Free cash flow increased 68% to $1.04 billion.
The company also posted healthy fourth quarter figures, with revenues of $1.12 billion, an increase of $107 million (11%) on the fourth quarter a year ago, led by 11% growth at U.S. networks and 12% growth at International networks. Adjusted pre-tax operating income rose 8% to $498 million.
“Discovery’s strong 2011 results and operating momentum exemplify the power and universal appeal of our non-fiction programming, as well as the opportunities inherent in the global distribution platform Discovery has built over the last 27 years,” said David Zaslav, Discovery’s president and CEO.
“Through our continued focus on creating high-quality programming and leveraging that content around the globe, as well as across a growing number of digital and consumer platforms, we were able to take additional share of a strong global advertising market, build new brands and create additional growth drivers across our portfolio.”