You will be redirected back to your article in seconds

Discovery Communications Q4 Profit Falls 12.4% On International Results

Discovery Communications has for several quarters reinforced the notion to investors that its U.S. operations are a smaller part of its overall base. That idea was re-emphasized Thursday as the media company said fourth-quarter net income fell 12.4% despite positive results at its U.S. operations, largely due to changes in foreign-currency exchange rates at its overseas businesses.

The Silver Spring, Md., owner of Discovery Channel, TLC and other cable networks, said fourth quarter revenue fell 1.8% to almost $1,.65 billion in the quarter, compared with nearly $1.68 billion in the year-earlier period. A revenue gain of 6% at the company’s U.S. networks was offset by an 8% decline at its international units.

Discovery said net income came to $219 million, or 34 cents a share, down 12.4% from $250 million, or 38 cents a share, in the year-earlier period.   Foreign currency exchange rates cut the adjusted earnings number by 24%, the company said.

Revenue at the company’s U.S. networks rose 6%, to $787 million,owing to increases in both advertising sales and distribution.  Revenue from the company’s international networks fell 8%, to $816 million, owing to fluctuations in foreign-exchange currency rates, which offset increases in revenue from advertising and distribution.

More TV

  • The Walking Dead Season 7 Mid

    Microsoft Picks Up Six-Second Ads in AMC's 'Walking Dead'

    Discovery Communications has for several quarters reinforced the notion to investors that its U.S. operations are a smaller part of its overall base. That idea was re-emphasized Thursday as the media company said fourth-quarter net income fell 12.4% despite positive results at its U.S. operations, largely due to changes in foreign-currency exchange rates at its overseas businesses. […]

  • Apple Video Taps Amazon Alum Morgan

    Apple Video Taps Amazon Alum Morgan Wandell to Head International Development

    Discovery Communications has for several quarters reinforced the notion to investors that its U.S. operations are a smaller part of its overall base. That idea was re-emphasized Thursday as the media company said fourth-quarter net income fell 12.4% despite positive results at its U.S. operations, largely due to changes in foreign-currency exchange rates at its overseas businesses. […]

  • nickelodeon animation loud house

    Female Animators Call for End of Culture of Sexual Harassment in Open Letter

    Discovery Communications has for several quarters reinforced the notion to investors that its U.S. operations are a smaller part of its overall base. That idea was re-emphasized Thursday as the media company said fourth-quarter net income fell 12.4% despite positive results at its U.S. operations, largely due to changes in foreign-currency exchange rates at its overseas businesses. […]

  • Finn Wolfhard Stranger things

    'Stranger Things' Star Finn Wolfhard Exits APA After Agent Accused of Sexual Abuse

    Discovery Communications has for several quarters reinforced the notion to investors that its U.S. operations are a smaller part of its overall base. That idea was re-emphasized Thursday as the media company said fourth-quarter net income fell 12.4% despite positive results at its U.S. operations, largely due to changes in foreign-currency exchange rates at its overseas businesses. […]

  • Steve Bannon 60 Minutes

    From Opioid Report to Oprah Winfrey, ‘60 Minutes’ Is Having a Moment

    Discovery Communications has for several quarters reinforced the notion to investors that its U.S. operations are a smaller part of its overall base. That idea was re-emphasized Thursday as the media company said fourth-quarter net income fell 12.4% despite positive results at its U.S. operations, largely due to changes in foreign-currency exchange rates at its overseas businesses. […]

  • Canal Plus

    Canal Plus, Telecom Italia Launch Joint Venture

    Discovery Communications has for several quarters reinforced the notion to investors that its U.S. operations are a smaller part of its overall base. That idea was re-emphasized Thursday as the media company said fourth-quarter net income fell 12.4% despite positive results at its U.S. operations, largely due to changes in foreign-currency exchange rates at its overseas businesses. […]

  • gina rodriguez

    Gina Rodriguez to Produce Female-Driven Drama From 'Crazy Ex-Girlfriend' Team at CW (EXCLUSIVE)

    Discovery Communications has for several quarters reinforced the notion to investors that its U.S. operations are a smaller part of its overall base. That idea was re-emphasized Thursday as the media company said fourth-quarter net income fell 12.4% despite positive results at its U.S. operations, largely due to changes in foreign-currency exchange rates at its overseas businesses. […]

More From Our Brands

Access exclusive content