SILVER SPRING, Md. (AP) _ Discovery Communications Inc. (DISCA) on Thursday reported third-quarter earnings of $117 million.
On a per-share basis, the Silver Spring, Maryland-based company said it had profit of 16 cents. Earnings, adjusted for amortization costs, were 52 cents per share.
The results did not meet Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 62 cents per share.
The operator of cable TV channels such as TLC and Animal Planet posted revenue of $2.59 billion in the period, which also missed Street forecasts. Seven analysts surveyed by Zacks expected $2.6 billion.
Discovery shares have climbed 48 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed 5 percent. The stock has climbed 91 percent in the last 12 months.