SILVER SPRING, Maryland — Discovery Communications Inc. (DISCA) on Tuesday reported first-quarter profit of $250 million.
The Silver Spring, Maryland-based company said it had profit of 37 cents per share. Earnings, adjusted for amortization costs, came to 42 cents per share.
The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 36 cents per share.
The operator of cable TV channels such as TLC and Animal Planet posted revenue of $1.54 billion in the period, meeting Street forecasts.
Discovery shares have declined 3 percent since the beginning of the year, while the Standard & Poor's 500 index has increased roughly 3 percent. The stock has declined 56 percent in the last 12 months.
Keywords: Discovery Communications, Earnings Report