Ads Boost Discovery Communications’ Revenue in Q3
Parent of Discovery Channel, TLC, Animal Planet Posts Strong Q3
By Jon Hemingway -- Broadcasting & Cable, 11/7/2007 11:37:00 AM
Discovery Communications Holding saw advertising revenue growth for both its U.S. and international networks in the third quarter.
Discovery -- which owns nonfiction networks such as Discovery Channel, TLC and Animal Planet -- saw consolidated third-quarter revenue increase 6% to $745 million on a 9% rise in advertising revenue while distribution revenue was flat. Operating cash flow increased 13% to $231 million and operating income dropped 13% to $152 million.
Revenue generated from U.S. networks increased 3% to $475 million on advertising-revenue growth of 19% partially offset by the exclusion of revenue from Travel Channel, which was divested in May. Operating cash flow from the segment was up 5% to $195 million.
The international networks generated $259 million in revenue, 11% higher than a year ago, on a 19% gain in advertising and 6% rise in distribution revenue, as well as favorable foreign-exchange rates. Operating cash flow increased 8% to $41 million.
Discovery Communications is a subsidiary of Discovery Holding.
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