The factual giant posted a 3% increase in revenue to $2.68B and net income increased to $262M over the three months to the end of September.
The financials beat expectations as international advertising increased 10% and distribution revenue rose by 8%. It noted that the net income rise was down to higher operating results and lower restructuring costs but was offset by an impairment charge in Asia.
It noted highlights include the launch of direct-to-consumer service Food Network Kitchen, continued success in bringing women 25-54 to Discovery and TLC’s ratings as well as an increase in international ratings.
Revenue at domestic networks increased 3% to $1.7B, while figures at its international networks grew 4% to $950 million thanks to new channel launches in Latin America, growth in Europe and digital licensing growth.
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David Zaslav, President and Chief Executive Officer of Discovery said, “Discovery once again delivered strong financial results across our portfolio, generating healthy revenue growth in the U.S. and internationally, and significant operational efficiencies from our ongoing transformation efforts. We also made progress in the buildout of our digital ecosystems that leverage our owned programming and brand strength. With a solid financial profile and strong balance sheet, we are able to invest meaningfully in our business and create additional value for shareholders.”
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