Discovery Communications (DISCA) Stock Jumps Following Earnings Beat
NEW YORK (TheStreet) -- Discovery Communications (DISCA) - Get Report stock is rising 5.39% to $31.68 in early afternoon trading on Tuesday, after the company reported better than expected earnings per share for the third quarter of 2015. Revenue fell short of estimates.
Before the market open this morning, the media company reported earnings of 47 cents per share for the quarter ended September 30, beating estimates of 38 cents per share.
Revenue declined 1% year-over-year to $1.56 billion for the quarter, missing estimates of $1.58 billion due to a negative impact from foreign exchange rates.
Revenue from U.S. networks increased 8% to $781 million with a 12% growth in distribution and a 6% rise in advertising.
"Discovery's unique portfolio of assets and global brands drove yet another quarter of strong worldwide viewership and financial results," CEO David Zaslav said in a statement.
Separately, TheStreet Ratings team rates DISCOVERY COMMUNICATIONS INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
We rate DISCOVERY COMMUNICATIONS INC (DISCA) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, attractive valuation levels and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, a generally disappointing performance in the stock itself and feeble growth in the company's earnings per share.
You can view the full analysis from the report here: DISCA
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