A solid performance from Discovery Communications’ international business in the second quarter the year meant the US based broadcaster posted revenues of $1,067 million (€755 million), up US$104 million year-on-year.
Revenue grew by 11% thanks to 20% growth from Discovery’s International Networks and 6% growth from its US Networks. Adjusted operating income before depreciation and amortization increased 12% to US $510 million, driven by a 31% increase at International Networks and a 4% increase at US Networks.
David Zaslav, Discovery’s president and CEO said: “Discovery continues to deliver strong financial results, particularly across our unique international platform, as the depth and breadth of our content assets have enabled the company to capitalize on the sustained ad market strength worldwide as well as take advantage of the evolution of pay-tv across the globe. Our growth this past quarter was achieved despite continued strategic investments to further our competitive advantage both domestically and internationally. Bolstering our flagship networks, building additional growth assets across the company and leveraging the unparalleled distribution platform we built over the last 25 years remain our top priorities, and we are focused on doing so while delivering sustained financial results and returning additional capital to our shareholders.”
19 September 2020 @ 17:00:01 UTC