4/28 – Discovery’s Earnings Buoyed by Advertising

Silver Spring, MD-based Discovery Communications said its profits rose as the media and advertising business continued its recovery. Net income  rose 80% to $305 million, or 74 cents a share, from $169 million, or 39 cents a share. The earnings include a $102 million gain from contributing its Discovery Health network to the Oprah Winfrey Network joint venture. Without one-time gains, earnings were up 20%. Revenues rose 9% to $951 million.

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