Discovery Posts Q4 Profit Gain

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Discovery Communications said fourth-quarter profit rose as the economy improved.

Fourth-quarter net income rose to $202 million, or 47 cents per share, from $151 million or 35 cents per share a year ago.

Revenue increased 7% to $1.02 billion.

Adjusted earnings at Discovery's U.S. networks rose 16% to $347 million. Earnings at its International Networks rose 7% to $161 million.

Revenue at the U.S. Networks rose 9% to $612 million. Ad revenue rose 13% to $323 million while distribution revenue rose 7% to $261 million. Revenue at Discovery's International Network rose 4% to $358 million.

Discovery said fourth-quarter results included $32 million in expenses, mainly from losses related to joint venture investments, which include the Oprah Winfrey Network, which launched Jan. 1.

Company executives will discuss results further in a conference call with analysts this morning.

Jon Lafayette is business editor of Broadcasting & Cable.

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