Discovery Communications Q1 Earnings Top Estimates

reported upbeat earnings for the first quarter on Tuesday. The Silver Spring, Maryland-based company reported quarterly earnings of $250 million, or $0.37 per share, versus $230 million, or $0.33 per share, in the year-ago period. Excluding items, Discovery Communications earned $0.42 per share. Its revenue climbed 9 percent to $1.54 billion. However, analysts were expecting a profit of $0.35 per share on revenue of $1.54 billion. The average estimate among 4 Estimize users was for earnings of $0.37 per share and revenue of $1.56 billion. Distribution revenue from its international networks climbed 17 percent to $396 million, while distribution revenue from U.S. networks climbed 13 percent to $362 million. Revenue from the company's U.S. networks gained 6 percent to $749 million, while revenue from Discovery's international networks surged 10.2 percent to $735 million. Adjusted Operating Income Before Depreciation and Amortization rose 8 percent to $568 million. During the quarter, Discovery Communications repurchased 6.4 million shares of its Series C common stock for a total of $200 million. "2015 is off to a great start, as our strategy of investing in and owning world-class content to leverage across our unparalleled global distribution platform continues to drive operating momentum and strong financial results," said David Zaslav, President and CEO of Discovery Communications. "Despite facing a challenging U.S. marketplace and foreign currency headwinds, Discovery is successfully building market share, expanding our distribution and developing programming that resonates with audiences around the world." Discovery shares gained 1.44 percent to $33.85 in pre-market trading.