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Discovery Sees Shark Week Bump

NEW YORK ( TheStreet) -- Discovery Communications (DISCA - Get Report) shares are up more than 2% today, trading around $39.50 and flirting with the high end of its 52-week range of $24.13 to $40.13.

The owner of the Discovery Channel, Animal Planet and TLC networks will release its quarterly earnings report tomorrow. Analysts expect earnings to come in at 43 cents per share for the second quarter, while management has set guidance of between 41 and 46 cents a share.

The release of results coincides with the Discovery Channel's 23rd annual Shark Week, which is now available live on FLO TV mobile.

Discovery recently announced that it launched a Discovery Mobile Channel on FLO TV, a subsidiary of Qualcomm (QCOM - Get Report). The service will offer consumers full-length programming of shows such as Deadliest Catch and Dirty Jobs, as well as 24/7 mobile viewing of Shark Week.

"The FLO TV offering expands our reach by tapping new audiences for our networks and further engaging our loyal viewers who want to watch our award-winning series on the go, whether on their mobile handsets, in cars or on personal devices," said Rebecca Glashow, senior vice president of digital media distribution.

-- Reported by Theresa McCabe in Boston.

Follow Theresa McCabe on Twitter and become a fan on Facebook.
Copyright 2010 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. AP contributed to this report.

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