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6 Months : From May 2019 to Nov 2019
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.
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(END) Dow Jones Newswires
August 06, 2019 07:35 ET (11:35 GMT)
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