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UPDATE 1-Discovery Communications international ad sales jumps
July 31, 2014 / 12:05 PM / in 3 years

UPDATE 1-Discovery Communications international ad sales jumps

(Adds details, share move)

July 31 (Reuters) - Discovery Communications Inc, which runs channels such as Animal Planet and Investigation Discovery, reported quarterly revenue slightly above analysts’ expectations, helped by a jump in advertising sales in its international networks.

Revenue from advertising in international networks increased 23 percent for the second quarter ended June 30, while ad revenue from Discovery’s U.S. networks grew 5 percent.

Global television advertising revenue is expected to rise more than 30 percent to $214.7 billion in 2018 from $164.4 billion in 2013, according to statistics website Statista. (bit.ly/1rKZhPw)

Media companies such as Discovery make money from advertising on their cable networks and from fees paid by companies such as Comcast Corp and DirecTV to carry their channels.

Total revenue increased about 10 percent to $1.61 billion, beating analysts’ average estimate of $1.6 billion, according to Thomson Reuters I/B/E/S.

Net income available to the company rose to $379 million, or $1.09 per share, from $300 million, or 82 cents per share, a year earlier.

Discovery Communications said it now expects full-year revenue of $6.45 billion-$6.53 billion. It earlier expected revenue of $6.45 billion-6.63 billion. (Reporting by Abhirup Roy in Bangalore; Editing by Savio D‘Souza and Joyjeet Das)

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