Discovery Communications has posted revenue and income increases for the fourth quarter and full year, 2013, propelled by strong growth from its international networks.
The cable giant’s revenue rose 28% to US$1.54 billion in the quarter ending December 31 compared with $1.20 billion in the same period the year prior.
Net income rose to $289 million, or 81 cents per share, compared with $224 million, or 61 cents per share, in the same period in 2012. The increase was led by 64% growth at Discovery International Networks and 5% growth at its U.S. networks.
Excluding amortization, earnings rose to 92 cents per share. Analysts were expecting earnings of 89 cents per share on revenue of $1.55 billion, according to Thomson Reuters I/B/E/S.
Meanwhile, for the full year, revenues of $5.54 billion were up by 23% thanks to 51% growth in the international networks division, and 7% growth for its U.S. networks. Net income for the full year stood at $1.08 billion, up from $954 million from the full year 2012.
“Discovery’s strong 2013 results reflect the additional market share we are capturing around the globe as we further invest in our diverse content portfolio and capitalize on the growth opportunities available across the unmatched worldwide distribution platform we have developed,” president and CEO David Zaslav (pictured) said in a statement.
Ad revenues overseas were up 26% due to increased viewership and higher pricing in Western Europe and Latin America in particular, the company said. Meanwhile, distribution revenues grew 16% thanks mainly to higher rates and increased subscribers in Latin America, Central and Eastern Europe and Asia-Pacific.
Discovery Communications’ channel portfolio includes Discovery Channel, Animal Planet, TLC and OWN.