The cable networks company, which is led by CEO David Zaslav and last year closed its $14.6 billion acquisition of Scripps Networks Interactive, reports its latest financials.
Discovery Inc. on Tuesday posted better-than-expected second-quarter earnings and higher U.S. advertising revenue.
Discovery posted quarterly earnings of $947 million, or $1.33 per share, or adjusted earnings per share of 98 cents. The unadjusted figure included a one-time, non-cash tax benefit recognized in the quarter. "The Company carried out a number of internal restructurings across several jurisdictions within the International Networks segment.
"The increase in advertising revenues was primarily driven by increases in pricing and, to a lesser extent, inventory, as well as the continued monetization of digital content offerings, partially offset by lower overall ratings and the impact of audience declines in the aggregate on our linear networks," Discovery said.
Discovery management, led by president and CEO David Zaslav, in its earnings conference call later in the morning is expected to again tout its growth strategy in digital and direct-to-consumer services.
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