Discovery Earnings: Income Down, Revenue Up

The cable networks owner reports 29% drop in net income, slight uptick in revenue for third quarter.

Discovery Communications Inc. said its net income for the third quarter fell 29 percent as an increase in operating costs offset a slight uptick in revenue for the owner of cable networks.

Discovery, which owns the Discovery Channel, Animal Planet and TLC, reported net income of $95 million in the quarter compared with $134 million in the same quarter a year ago. Earnings per share came to 22 cents, down from 44 cents. 

Read more by the Associated Press.