Discovery Communications today issued a financial report that failed to meet expectations, as fourth-quarter earnings and domestic ad revenues both fell, according to The Hollywood Reporter.
“The cable networks company, led by CEO David Zaslav, posted quarterly earnings of $250 million, down 13.5 percent compared with $289 million in the year-ago period,” THR reports. “The latest profit amounted to 38 cents per share. Adjusted operating income before depreciation and amortization, another profitability metric, also saw a slight drop to $638 million.”
Discovery CEO David Zaslav accentuated the positive, saying: “Despite a more challenging U.S market and significant foreign currency headwinds, our content portfolio once again drove audience gains and boosted our market share around the world. As we move into 2015, we are confident that our long-term content investment strategy, strong global IP and brands, and local approach to markets will continue to drive our results and enable us to deliver additional value to sareholders.”
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