SILVER SPRING, Md. (AP) _ Discovery Communications Inc. (DISCA) on Wednesday reported second-quarter profit of $271 million.
On a per-share basis, the Silver Spring, Maryland-based company said it had net income of 40 cents. Earnings, adjusted for non-recurring costs, were 77 cents per share.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 75 cents per share.
The operator of cable TV channels such as TLC and Animal Planet posted revenue of $2.54 billion in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $2.51 billion.
Discovery shares have fallen 33% since the beginning of the year, while the Standard & Poor’s 500 index has risen slightly more than 2%. The stock has decreased 25% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on DISCA at https://www.zacks.com/ap/DISCA
The Associated Press
