TV

Discovery sees third quarter growth

Discovery Communications has posted healthy third quarter results, with revenues increasing 18% year-on-year thanks in part to "the sustained health of the global ad market."
November 2, 2011


Discovery Communications has posted healthy third quarter results, with revenues increasing 18% year-on-year thanks in part to “the sustained health of the global ad market.”

The firm saw Q3 revenues of US$1.10 billion, up $169 million – or 18% – on the same quarter a year ago. The increase was led by 19% growth at the firm’s U.S. networks division and 19% growth at international networks.

Elsewhere, adjusted pre-tax operating income (OIBDA) grew 15% to $479 million, driven by a 9% increase at U.S. networks and a 20% increase at international networks; while net income from continuing operations increased to $238 million.

Free cash flow was $314 million for the quarter, a decrease of $32 million from the third quarter of 2010. Discovery repurchased 9.8 million shares at an average price of $36.30 per share, for an aggregate purchase price of $355 million.

David Zaslav, Discovery Communications’ president and CEO, said: “The strength of Discovery’s brands and the value of our content to consumers, distributors and advertisers alike were further demonstrated in our third quarter financial results.

“The appeal of our programming allowed us to continue to take advantage of the sustained health of the global ad market and further leverage existing and emerging distribution platforms worldwide.

“The breadth of our global distribution enables us to capitalize on the increasing penetration of traditional distribution models, while the diversity and appeal of our content allows us to strategically leverage evolving delivery methods.”

About The Author
Justin Anderson joined Realscreen as senior staff writer in 2021, reporting and writing stories for the newsletter and magazine. During his 20-year career he’s filled a variety of roles as a writer and editor at a number of media organizations, covering news and current affairs as well as business, tech, the film and music industries and plenty in between. He’s also spent time behind the scenes in television production, having written everything from voiceover scripts for documentaries to marketing copy. He has a degree in Journalism from Toronto Metropolitan University (formerly Ryerson University).

Menu

Search