Discovery: 2Q Earnings Snapshot

SILVER SPRING, Md. (AP) _ Discovery Communications Inc. (DISCA) on Tuesday reported second-quarter net income of $947 million.

On a per-share basis, the Silver Spring, Maryland-based company said it had profit of $1.33. Earnings, adjusted for one-time gains and costs, came to 98 cents per share.

The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 99 cents per share.

The operator of cable TV channels such as TLC and Animal Planet posted revenue of $2.89 billion in the period, surpassing Street forecasts. Three analysts surveyed by Zacks expected $2.88 billion.

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Discovery shares have risen 18% since the beginning of the year, while the Standard & Poor’s 500 index has risen 13%. The stock has risen nearly 8% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on DISCA at https://www.zacks.com/ap/DISCA

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