Feb 13 Discovery Communications Inc'
quarterly profit rose higher-than-expected as advertising
revenue in its international networks more than doubled.
The company posted a 64 percent rise in revenue from its
international networks in the fourth quarter, outstripping the 5
percent rise in revenue from U.S. networks.
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.
Discovery has invested more in content across its channels,
which include Animal Planet, Discovery Channel and Investigation
Discovery, at a faster rate than the fees it receives from
The company's revenue from international networks rose to
$758 million in the quarter from $462 million, powered by a 119
percent rise in advertising revenue.
Discovery said international advertising revenues, excluding
newly acquired businesses, rose 26 percent in local currency
terms, mainly due to higher viewership and pricing, particularly
in Western Europe and Latin America.
Revenue at its U.S. networks rose to $740 million from $703
million due to higher distribution and advertising revenue.
Total revenue increased 28 percent to $1.54 billion.
The company's net income rose to $289 million, or 81 cents,
from $224 million, or 61 cents, a year earlier.
Excluding items, the company earned 92 cents per share.
Analysts on average were looking for earnings of 89 cents
per share, on revenue of $1.55 billion, according to Thomson
Discovery shares closed at $82.86 on Wednesday on the