Discovery Communications Inc. DISCA offers original and purchased programming in the U.S. and more than 200 other countries with over 100 television networks. The company owns and operates nine national television networks in the U.S. The company has reported higher-than-expected earnings in three of the last four quarters with an average beat of 6.01%.
Currently, Discovery Communications has a Zacks Rank #3 (Hold), but that could definitely change following Discovery's earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: The company's first quarter 2016 earnings (on an adjusted basis) of 46 cents per share beat the Zacks Consensus Estimate by 4.5%. Earnings increased over the year-ago figure by10%.
Revenue: Discovery Communications reported revenues of $1,561 million, up 2% on a year over year basis. Revenues narrowly missed the Zacks Consensus estimate of $1,565 million.
Key Stats to Note: Quarterly adjusted operating income before depreciation and amortization (OIBDA) increased 2% year over year. The company bought back shares worth $373 million in the reported quarter. The company expects 2016 earnings per share (on an adjusted basis) to grow at least in high teens. Free cash flow (excluding currency effects) is also expected to display growth in at least high teens.
Check back later for our full write up on this Discovery Communications earnings report later!