Discovery 2Q Profit Rises 26%, Boosted By International Networks

Discovery Communications said weaker results at its U.S. TV networks were offset by robust activity from its international TV holdings, which helped the company notch a  26% increase in net income for the second quarter.

The Silver Spring, Md., owner of Discovery Channel, TLC and Investigation Discovery said net income rose 26.3% to $379 million from $300 million in the year-earlier period.

Revenue in the period rose about 10% to $1.61 billion. The company said a 23% increase in revenue at its international network was offset by a 2% revenue decline at its U.S. operations, a fall it attributed to a decrease in the amount of licensing revenue it took in compared to the year-earlier period.

The current period was also boosted by several one-time gains, including one from the sale of HowStuffWorks.com.

 

 

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