- Associated Press - Thursday, May 5, 2016

SILVER SPRING, Md. (AP) - Discovery Communications Inc. (DISCA) on Thursday reported first-quarter earnings of $263 million.

The Silver Spring, Maryland-based company said it had profit of 42 cents per share.

The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 41 cents per share.

The operator of cable TV channels such as TLC and Animal Planet posted revenue of $1.56 billion in the period, which did not meet Street forecasts. Four analysts surveyed by Zacks expected $1.57 billion.

Discovery shares have dropped slightly since the beginning of the year, while the Standard & Poor’s 500 index has stayed nearly flat. The stock has fallen 20 percent in the last 12 months.

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This story was generated by Automated Insights (https://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on DISCA at https://www.zacks.com/ap/DISCA

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Keywords: Discovery Communications, Earnings Report

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