Discovery Communications Reports Mixed Earnings (DISCA)

Discovery Communications, Inc. (

) reports Q3 earnings of $0.37 versus consensus of $0.43. Discovery Communications, Inc. reports revenues of $926 million versus consensus of $918.41 million. For the full year ending December 31, 2010, Discovery Communications, Inc. expects total revenue between $3,750 million and $3,800 million, Adjusted OIBDA between $1,675 million and $1,725 million, and net income available to Discovery Communications, Inc. stockholders of $650 million to $700 million. David Zaslav, Discovery's President and Chief Executive Officer said, "Discovery continues to enjoy strong operational momentum across our businesses. Our ability to execute, combined with a robust advertising environment, enabled us to deliver third quarter results that exceeded our expectations. Most importantly, our revenue growth is translating into margin expansion and free cash flow growth as we remain focused on thoughtfully investing in our business and refining our cost structure." "We are committed to building the next generation of growth drivers and are producing real returns from additional investments in Animal Planet, ID and our international networks, while launching our joint ventures, The Hub and OWN. We are excited by the opportunities these investments present to further grow our business long-term and generate increased value for shareholders." Shares of DISCA are flat in the after-hours.