Discovery Communications (DISCA) Misses on Q3 Earnings

Discovery Communications Inc. DISCA offers original and purchased programming in the United States andmore than 220 other countries and territories in over 40 languages. The company has reported lower-than-expected earnings in three of the last four quarters.

Currently, Discovery Communications has a Zacks Rank #3 (Hold), but that could definitely change following Discovery’s earnings report which was just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

We have highlighted some of the key stats from this just-revealed announcement below:

Earnings: The company’s third quarter 2017 earnings (on an adjusted basis) of 43 cents per share missed the Zacks Consensus Estimate of 55 cents per share. Earnings increased substantially from the year-ago figure.

Revenue: Discovery Communications reported revenues of $1,651 million, up 6% on a year over year basis. Revenues were above the Zacks Consensus estimate of $1,638.2 million. Strong performance of the U.S. Networks division drove the top line.

Key Stats to Note: Quarterly adjusted operating income before depreciation and amortization (OIBDA) increased 3% year over year. During the quarter under review, the company bought back shares worth $102 million.

Check back later for our full write up on this Discovery Communications earnings report later!

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