On back of international, Discovery sees double-digit revenue growth
DetailsMichelle Clancy | 20 February 2015
Discovery Communications has reported full-year revenues of $6.27 million, an increase of $730 million, or 13%, compared to the full year a year ago.
Its fourth-quarter revenues came in at $1.7 million, an increase of $139 million, or 9%, over the fourth quarter a year ago.
The quarterly results were led by a 17% growth at international networks — compared to a 1% growth in US Networks. For the year, international networks revenue was up 28%, while US networks remained flat.
"The healthy performance of our core business coupled with increasing contributions from our recent strategic acquisitions led to another year of solid operational and financial results and increasing capital returns in 2014," said David Zaslav, president and CEO of Discovery Communications.
"Despite a more challenging US market and significant foreign currency headwinds, our content portfolio once again drove audience gains and boosted our market share around the world. As we move into 2015, we are confident that our long-term content investment strategy, strong global IP and brands, and local approach to markets will continue to drive our results and enable us to deliver additional value to shareholders."
Full-year net income was $1,139 million, up $64 million, or 6%, compared to last year. Q4 profit was $250 million though — down $39 million, or 13%, compared to $289 million a year ago.