Discovery Communications posted modest third-quarter gains led by its international portfolio, while Stateside networks grew more modestly and saw continued subscriber losses.
The owner of major cable networks like Discovery and TLC said total revenue of $1.65 billion was up 6% from the year-earlier quarter. Net income of $218 million was up 14%, but without accounting for currency exchange rates it was actually flat with a year ago.
US - Networks - Revenues - Quarter - %
U.S. networks’ revenues for the third quarter rose 4% to $823 million, paced by a 6% rise in distribution and 3% in advertising. The gains in distribution came from higher affiliate fee rates and increases in content licensing revenue, partially offset by a decline in affiliate subscribers. Total portfolio subscribers declined 5% in the quarter, while subscribers to fully...