variety.com
David Zaslav
Coronavirus
reports
David Zaslav
Discovery Profit Dips in Q1 Amid Flat Domestic Ad Sales, Subscriber Losses
Reading now: 825
variety.com
variety.comBy Cynthia Littleton Business Editor Discovery Inc. posted a dip in profit for the first quarter as the company grapples with international headwinds, stagnant advertising sales and subscriber losses at its U.S.
cable networks. Discovery reported revenue of $2.7 billion for the quarter, which was flat year over year, and $1.1 billion in adjusted operating income, down 4%.
Net income for the quarter came in at $377 million, compared to $384 million in the year-ago quarter. Discovery CEO David Zaslav told investors during the earnings conference call that Discovery has been dealing with the impact of coronavirus shutdowns since December at some of its international outlets.
Read more on variety.com
The website starsalert.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
Report this news
Related News
Celebrities
Locations