Discovery Communications Q2 Profit Up; Revises 2013 Targets - Quick Facts

(RTTNews) - Discovery Communications Inc.'s (DISCA, DISCB, DISCK) second-quarter net income available to stockholders climbed to $300 million, or $0.82 a share, from the prior-year figure of $293 million, or $0.76 a share, helped by the strong operating performance in the current year partially offset by higher interest and taxes as well as increased amortization related to purchase price allocation for the SBS transaction. On average, 26 analysts polled by Thomson Reuters expected earnings per share of $0.90 for the quarter. Analysts' estimates typically exclude one-time items.

Total revenues for the second quarter reached $1.47 billion, up 30%, compared with $1.13 billion a year ago, led by 61% growth at International Networks and a 13% growth at U.S. Networks. Analysts estimated revenues of $1.48 billion for the quarter.

For 2013, the firm now sees net income available to stockholders in the $1.10 billion - $1.15 billion range, on total revenue of $5.55 billion - $5.625 billion. Previously, 2013 net income was projected in the range of $1.20 billion - $1.30 billion and total revenue of $5.575 billion - $5.70 billion. Analysts project annual earnings of $3.35 a share, and $5.58 billion in revenues. This updated outlook incorporates the impact of the purchase price allocation associated with the SBS transaction, current foreign exchange rates for revenues and expenses and the current share price for mark-to-market equity-based compensation calculations, according to the company.