Discovery Inc total revenue jumps 3% to $2,678 million in Q3 FY19
The company's international advertising revenue rose 5% to $394 million
Discovery Inc has reportedly witnessed a revenue increase of 3 per cent to $2,678 million, while net income increased to $262 million in Q3 FY19. Revenue from the company's international networks grew 4 per cent to $950 million.
Reports state the company's US advertising revenues increased 3 per cent to $1019 million and distribution grew 6% while international advertising revenues rose 5 per cent to $394 million and distribution increased 2 per cent. Growth in advertising was mainly attributed to increases in pricing and the continued monetisation of digital content offerings and inventory and was somewhat offset by lower overall ratings and the impact of audience declines on the linear networks.
According to reports, commenting on the company's financial results, David Zaslav, President and Chief Executive Officer of Discovery said, "Discovery once again delivered strong financial results across our portfolio, generating healthy revenue growth in the U.S. and internationally, and significant operational efficiencies from our ongoing transformation efforts. We also made progress in the buildout of our digital ecosystems that leverage our owned programming and brand strength. With a solid financial profile and strong balance sheet, we are able to invest meaningfully in our business and create additional value for shareholders."
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