SILVER SPRING, Md. (AP) — Discovery Communications Inc. (DISCA) on Monday reported fourth-quarter profit of $271 million.
The Silver Spring, Maryland-based company said it had net income of 42 cents per share. Earnings, adjusted for one-time gains and costs, were 76 cents per share.
The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 73 cents per share.
The operator of cable TV channels such as TLC and Animal Planet posted revenue of $2.89 billion in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $2.83 billion.
For the year, the company reported profit of $1.22 billion, or $1.81 per share. Revenue was reported as $10.67 billion.
Discovery shares have increased 69% since the beginning of the year, while the Standard & Poor's 500 index has risen 4%. The stock has increased 69% in the last 12 months.
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