Discovery Communications Earnings: Here’s Why Investors are Selling Shares Now
Discovery Communications, Inc. (NASDAQ:DISCA) delivered a profit and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 2.11%.
Discovery Communications, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 10.53% to $0.63 in the quarter versus EPS of $0.57 in the year-earlier quarter.
Revenue: Rose 4.81% to $1.16 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Discovery Communications, Inc. reported adjusted EPS income of $0.63 per share. By that measure, the company missed the mean analyst estimate of $0.65. It beat the average revenue estimate of $1.15 billion.
Quoting Management: David Zaslav, Discovery’s President and Chief Executive Officer said, “The significant operating momentum Discovery generated throughout 2012 continued unabated in the first quarter with more and more audiences around the globe viewing our unique programming. The sustained investment we have made in developing compelling content, along with the quality of our brands, translated into further market share gains, with record first quarter viewership at our domestic networks and 16% audience growth across our international portfolio. As we continue to invest in the organic growth opportunities our diverse distribution platform provides, we have also completed several strategic acquisitions which we expect will further broaden our asset mix around the world and bolster our long-term growth prospects. 2013 is off to a great start and with continued focus on strong operating execution, we anticipate building on the financial success we have achieved over the last several years while delivering significant shareholder value.”
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