Discovery Communications Beats the Street, Posts Q2 Revenue Growth

The owner of the Discovery Channel, TLC and Animal Planet  continues to profit in spite of OWN

Discovery Communications Inc's quarterly profit beat market estimates on revenue growth at its international and domestic networks.

The company — whose cable networks include Discovery Channel, TLC and Animal Planet — forecast full-year revenue of between $4.55 billion and $4.65 billion.

Analysts on average were expecting $4.6 billion, according to Thomson Reuters I/B/E/S.

Also Read: Amazon, Discovery Communications Sign Streaming Pact

Net income available to stockholders rose to $293 million, or 76 cents per share, in the second quarter, from $264 million, or 62 cents per share, a year earlier.

Revenue increased 7 percent to $1.14 billion.

Analysts had expected earnings of 70 cents per share on revenue of $1.16 billion, according to Thomson Reuters I/B/E/S.