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Discovery Communications Posts Higher Operating Profit

Nov 9, 2005  •  Post A Comment

Discovery Holding, releasing its first set of earnings figures since being spun off from John Malone’s Liberty Media in July, reported Wednesday that Discovery Communications’ third-quarter operating profit soared 28 percent to $166 million.

Revenue at the company rose 15 percent to $639 million, driven by higher subscriber fees and advertising revenue at its domestic and international channels.

Despite the results, Discovery shares were off 1 percent early Wednesday, as investors responded to Discovery’s decision not to hold an earnings conference call to discuss the results.

The company expected full-year revenue to rise by a percentage in the low to mid-teens, reflecting the company’s higher advertising revenue, which will be offset partially by continued ratings declines at The Learning Channel.