Discovery said second-quarter profit increased as advertising rebounded from a pullback last year during the coronavirus pandemic and as the company attracted new customers — 18 million to date — to its new streaming operations.
Net income came to $672 million, or $1.01 per share, compared with $271 million, or 40 cents a share.
The New York owner of the HGTV, Food Network and Discovery Channel cable outlets said overall revenue in the second quarter rose 21% to $3.06 billion, compared with $2.54 billion in the year-earlier period. Discovery is in 2022 expected to take operational control of the assets of WarnerMedia now operated by AT&T.
Click here to sign up for Variety’s free Media Earnings newsletter.
“Advertising revenue increased in every region of the globe and accelerated throughout the quarter,” said David Zaslav, CEO of Discovery, in a statement, adding that the company “continued to steadily execute in our emerging next generation businesses.”
Like many of its rivals,...
Net income came to $672 million, or $1.01 per share, compared with $271 million, or 40 cents a share.
The New York owner of the HGTV, Food Network and Discovery Channel cable outlets said overall revenue in the second quarter rose 21% to $3.06 billion, compared with $2.54 billion in the year-earlier period. Discovery is in 2022 expected to take operational control of the assets of WarnerMedia now operated by AT&T.
Click here to sign up for Variety’s free Media Earnings newsletter.
“Advertising revenue increased in every region of the globe and accelerated throughout the quarter,” said David Zaslav, CEO of Discovery, in a statement, adding that the company “continued to steadily execute in our emerging next generation businesses.”
Like many of its rivals,...
- 8/3/2021
- by Brian Steinberg
- Variety Film + TV
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