Discovery Earnings: Income Down, Revenue Up

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

Last Updated: November 4, 2009 @ 2:38 PM
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.