NEW YORK -- Discovery Communications on Thursday posted improved first-quarterearnings as advertising and affiliate fee growth continued.
The cable networks firm reported a quarterly profit from continuing operations of $305 million, up 80 percent compared with $169 million in the year-ago period. The latest quarter's results included a gain of $102 million, net of tax, as the company contributed the U.S. Discovery Health network to the OWN: Oprah Winfrey Network joint venture,
Revenue rose 9 percent to $951 million as U.S. advertising revenue climbed 15 percent when taking into account the exclusion of Discovery Health.
"Discovery's strong first quarter results reflect the operating momentum we are generating across our global portfolio in a continued favorable economic climate," said president and CEO David Zaslav. "Our consistent investment in content over the past four years, along with a drive to expand our subscriber base domestically and internationally, has enabled Discovery to grow our audiences across the globe."
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Email: Georg.Szalai@thr.com
Twitter: @georgszalai
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