Discovery Communications has reported a year-on-year revenue increase of 28% for the third quarter of 2013, buoyed by 59% growth in its international networks division and 10% growth for its U.S. networks.
Third quarter revenues of US$1.38 billion were up by $299 million from last year’s third quarter. Net income, meanwhile, rose by 24% to $255 million, up from $205 million.
The rise in revenue for the international networks division, from $390 million in the third quarter of 2012 to $620 million in Q3 2013, is attributed to a hefty rise in advertising revenues, up 127%, and in distribution revenues, up by 29%.
As part of its full year outlook, the company says it expects total revenue between $5.55 billion and $5.63 billion, and net income of $1.1 billion to $1.15 billion.
“Discovery’s strong third quarter results once again demonstrate the breadth and depth of our brands and the myriad of opportunities across our global distribution platform,” said David Zaslav (pictured above), president and CEO of Discovery Communications.
“As we invest in the organic growth opportunities across our diverse portfolio, we are also focused on the integration of our recent acquisitions,” he added. “Building additional long-term growth prospects remains a priority as we deliver sustained financial results and return additional capital to shareholders.”