| Discovery Comm Q3 net income falls to $95 mn | |
| Press Trust of India / New York November 04, 2009, 15:47 IST | |
Discovery Communications Inc today reported a fall of 29 per cent in third quarter net income at $95 million, while its revenue increased during the period.
In the year-ago period, the company had a net income of $134 million, Discovery Communications said in a statement.
Discovery said decline in net income is primarily due to $91 million expense, change in the value of the mark-to- market share-based compensation, which was helpful for the company in the year-ago period.
Total revenues increased to $854 million in the quarter ended September 30, 2009 from $845 million in the same quarter last fiscal.
Discovery which owns Discovery channel said total revenue increased during the quarter as 5 per cent growth at the US Networks was partially offset by a 2 per cent decline at International Networks.
In terms of geographical revenue, the company's revenue from US Networks increased by 5 per cent to $522 million on quarter on quarter basis, primarily driven by distribution and advertising revenue growth.
While, International Networks'revenues for third quarter decreased 2 per cent to $293 million due to $22 million unfavourable impact from foreign currency fluctuations.
For the full year ended December 31, 2009, Discovery expects total revenue in the range of $3.45 billion to $3.50 billion.
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