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

Last Updated: July 31, 2012 @ 11:14 AM

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.

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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.