Discovery Beats Analysts' 2Q Earnings Estimates Due To Tax Break

Date : 08/06/2019 @ 11:50AM
Source : Dow Jones News
Stock : Discovery Inc (DISCA)
Quote : 28.31  -0.895 (-3.06%) @ 12:58AM
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Last $ 28.40 ▲ 0.09 (0.32%)

Discovery Beats Analysts' 2Q Earnings Estimates Due To Tax Break

Discovery (NASDAQ:DISCA)
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1 Year : From Feb 2019 to Feb 2020

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By Michael Tobin


Discovery Inc. (DISCA) posted second quarter results Tuesday that beat analysts' earnings expectations as a result of a one-time tax benefit.

The media company reported earnings of $1.33 a share, an increase from 30 cents a share during the prior year period. Analysts polled by FactSet estimated earnings of $1.22 a share. The company attributed the increase to "higher operating results" and a one-time tax benefit of $455 million as a result of internal restructuring within its international networks segment.

On an adjusted basis, Discovery reported earnings of $1.61 a share. Analysts were looking for adjusted earnings of 98 cents a share.

The company reported $2.89 billion in revenue, up from $2.85 billion during last year's second quarter. Analysts' were looking for revenue of $2.89 billion.


Write to Michael Tobin at


(END) Dow Jones Newswires

August 06, 2019 07:35 ET (11:35 GMT)

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