Early Tuesday, Discovery reported revenue of $1.71 billion and earnings of 71 cents a share, beating expectations once again and finding a financial trajectory that’s eluded other cable networks.
That topped the $1.65 billion in revenue and earnings of 44 cents a share the company earned during the corresponding period last year. It also matched consensus analyst estimates of $1.71 billion in revenue and handily beat expected earnings of 54 cents a share.
“Discovery posted a solid quarter of growth and financial results by investing in premium and diversified content that fuels the passion of superfans on pay-TV, free-to-air, direct-to-consumer and digital platforms,” Discovery CEO David Zaslav said in a statement accompanying the earnings.