Discovery Communications has released its financial results for the second quarter ended June 30, with reported revenues of US$963 million, up 11%, over the second quarter a year ago led by 10% growth at US Networks and 15% growth at International Networks.
Second quarter net income available to Discovery Communications stockholders of US$106 million decreased by US$71 million, compared to US$177 million for the second quarter a year ago, which included a gain on the sale of 50% of the Discovery Kids channel.
Education and Other second quarter revenues decreased US$2 million to US$33 million, primarily reflecting increased education revenue from higher streaming volumes, which was more than offset by lower revenues from Creative Sound Services.
The company remains focused on further strengthening its global content, with increased investments in Animal Planet and ID translating into ratings and advertising growth domestically. Discovery has also introduced a US $1 billion share repurchase plan to return capital to stockholders.